An Optimized Model for Detecting the Performance of Credit Card Fraud
Abstract
With the advancements in the Information Technology and upgrades in the communication channels, credit card extortion is spreading everywhere throughout the world, bringing about financial loses. Despite the fact that credit card fraud avoidance instruments, for example, CHIPPIN are created, these components don’t forestall the most well- known misrepresentation types, for example, fake card uses over virtual POS terminals or mail orders. Therefore, misrepresentation recognition is the basic apparatus and most likely the most ideal approach to stop such extortion types. Right now, models dependent on decision trees and K-nearest Neighbor (KNN) are created and applied on credit card fraud recognitionissue.
Keywords: Credit card fraud detection, Decision trees, K- nearest Neighbour.