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A Survey of Fraud Detection Techniques for Credit Card Based Transaction Processing

Vaibhav Lal, Siddharth Choubey


The wide emergence of electronic-commerce has widened the extensive usage of credit card for online transactions. However, there is also a high rise in malicious transaction and fraudulent associated with the credit cards. In this study, we present several models and algorithm used in data mining for the detection of such malicious fraudulent or thefts. Such algorithm learns the transaction patterns and clusters the pattern of sequences usually involving with the processing of transactions to inhibit such malicious transactions made in the future.

Keywords: Online transactions, credit card, credit card fraud, detection techniques, credit bureaux, data mining techniques, fraud detection

Cite this Article
Vaibhav Lal, Siddharth Choubey, A Survey of Fraud Detection Techniques for Credit Card Based Transaction
Processing, Recent Trends in Parallel Computing. 2015; 2(1): 10–15p.

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