Frauds in mastercard transactions are common today as most folks are using the mastercard payment methods more frequently. this is often thanks to the advancement of Technology and increase in online transaction leading to frauds causing huge loss . Therefore, there’s need for effective methods to scale back the loss. additionally , fraudsters find ways to steal the mastercard information of the user by sending fake SMS and calls, also through masquerading attack, phishing attack then on. This paper aims in using the multiple algorithms of Machine learning like support vector machine (SVM), k-nearest neighbor (Knn) and artificial neural network (ANN) in predicting the occurrence of the fraud. Further, we conduct a differentiation of the accomplished supervised machine learning and deep learning techniques to differentiate between fraud and non-fraud transactions.
link of dataset=https://www.kaggle.com/mlg-ulb/creditcardfraud
The datasets contains credit card transactions over a two day collection period in September 2013 by European cardholders. There are a total of 284,807 transactions, of which 492 (0.172%) are fraudulent.
The dataset contains numerical variables that are the result of a principal components analysis (PCA) transformation. This transformation was applied by the original authors to maintain confidentiality of sensitive information. Additionally the dataset contains Time and Amount, which were not transformed by PCA. The Time variable contains the seconds elapsed between each transaction and the first transaction in the dataset. The Amount variable is the transaction amount, this feature can be used for example-dependant cost-senstive learning. The Class variable is the response variable and indicates whether the transaction was fraudulant.
The dataset was collected and analysed during a research collaboration of Worldline and the Machine Learning Group of Université Libre de Bruxelles (ULB) on big data mining and fraud detection.
- Applied various classification techniques like :-
- Logistic Regression Light
- GBM K Nearest Neighbors (KNN ) Classification
- Trees Random Forest
- SVM XGBoost Classifier
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