Credit Card Fraud Detection Project

Online Credit Card Fraud Detection

Abstract:

The credit card fraud detection features makes use of the behavior and location of the user to check for unusual patterns. Credit cards are now being widely used all over the world for transactions, irrespective of the geographical boundaries. Therefore the range of theft and fraud transactions have widely increased. In order to detect both the fraud and nonfraud transactions Credit card fraud detection system (CCFD) is used. These patterns include user characteristics such as user spending patterns as well as usual user geographic locations to verify his identity. The system requires revivification as soon as any unusual pattern is detected. User’s credit card data is being analyzed by the system for various characteristics. These characteristics include user’s country and usual spending procedures. The system recognizes unusual patterns in the payment procedures based upon previous data of that user. So now, the system may require the user to login again or even block the user for more than three invalid attempts.