scholarly journals An Artificial Intelligence Approach to Financial Fraud Detection under IoT Environment: A Survey and Implementation

2018 ◽  
Vol 2018 ◽  
pp. 1-15 ◽  
Author(s):  
Dahee Choi ◽  
Kyungho Lee
Keyword(s):  
Machine Learning ◽  
Credit Card ◽  
Fraud Detection ◽  
Transition Services ◽  
Financial Data ◽  
Financial Fraud ◽  
Financial Loss ◽  
Final Model ◽  
Mobile Transaction ◽  
Unsupervised Algorithms

Financial fraud under IoT environment refers to the unauthorized use of mobile transaction using mobile platform through identity theft or credit card stealing to obtain money fraudulently. Financial fraud under IoT environment is the fast-growing issue through the emergence of smartphone and online transition services. In the real world, a highly accurate process of financial fraud detection under IoT environment is needed since financial fraud causes financial loss. Therefore, we have surveyed financial fraud methods using machine learning and deep learning methodology, mainly from 2016 to 2018, and proposed a process for accurate fraud detection based on the advantages and limitations of each research. Moreover, our approach proposed the overall process of detecting financial fraud based on machine learning and compared with artificial neural networks approach to detect fraud and process large amounts of financial data. To detect financial fraud and process large amounts of financial data, our proposed process includes feature selection, sampling, and applying supervised and unsupervised algorithms. The final model was validated by the actual financial transaction data occurring in Korea, 2015.

scholarly journals An Xgboost based system for financial fraud detection

2020 ◽  
Vol 214 ◽  
pp. 02042
Author(s):  
Shimin LEI ◽  
Ke XU ◽  
YiZhe HUANG ◽  
Xinye SHA
Keyword(s):  
Machine Learning ◽  
Data Mining ◽  
Credit Card ◽  
Detection System ◽  
Fraud Detection ◽  
Financial Fraud ◽  
Credit Card Fraud

Credit card fraud leads to billions of losses in online transaction. Many corporations like Alibaba, Amazon and Paypal invest billions of dollars to build a safe transaction system. There are some studies in this area having tried to use machine learning or data mining to solve these problems. This paper proposed our fraud detection system for e- commerce merchant. Unlike many other works, this system combines manual and automatic classifications. This paper can inspire researchers and engineers to design and deploy online transaction systems.

scholarly journals Deep Convolution Neural Network Model for Credit-Card Fraud Detection and Alert

2021 ◽  
Vol 3 (2) ◽  
pp. 101-112
Author(s):  
Joy Iong-Zong Chen ◽  
Kong-Long Lai
Keyword(s):  
Neural Network ◽  
Machine Learning ◽  
Deep Learning ◽  
Credit Card ◽  
Fraud Detection ◽  
Financial Fraud ◽  
Detection Accuracy ◽  
Learning Models ◽  
Proposed Model ◽  
Deep Convolution Neural Network

With the exponential increase in the usage of the internet, numerous organisations, including the financial industry, have operationalized online services. The massive financial losses occur as a result of the global growth in financial fraud. Henceforth, devising advanced financial fraud detection systems can actively detect the risks such as illegal transactions and irregular attacks. Over the recent years, these issues are tackled to a larger extent by means of data mining and machine learning techniques. However, in terms of unknown attack pattern identification, big data analytics and speed computation, several improvements must be performed in these techniques. The Deep Convolution Neural Network (DCNN) scheme based financial fraud detection scheme using deep learning algorithm is proposed in this paper. When large volume of data is involved, the detection accuracy can be enhanced by using this technique. The existing machine learning models, auto-encoder model and other deep learning models are compared with the proposed model to evaluate the performance by using a real-time credit card fraud dataset. Over a time duration of 45 seconds, a detection accuracy of 99% has been obtained by using the proposed model as observed in the experimental results.

scholarly journals Credit Card Fraud Detection System

2020 ◽  
Vol 6 (12) ◽  
pp. 24-27
Author(s):  
Shashank Singh and Meenu Garg
Keyword(s):  
Machine Learning ◽  
Credit Card ◽  
Data Science ◽  
Detection System ◽  
Fraud Detection ◽  
Detection Problem ◽  
Credit Card Fraud ◽  
Local Outlier Factor ◽  
Local Outlier ◽  
Isolation Forest

It is essential that Visa organizations can distinguish false Mastercard exchanges so clients are not charged for things that they didn't buy. Such issues can be handled with Data Science and its significance, alongside Machine Learning, couldn't be more important. This undertaking expects to outline the demonstrating of an informational collection utilizing AI with Credit Card Fraud Detection. The Credit Card Fraud Detection Problem incorporates demonstrating past Visa exchanges with the information of the ones that ended up being extortion. This model is then used to perceive if another exchange is fake. Our target here is to identify 100% of the fake exchanges while limiting the off base misrepresentation arrangements. Charge card Fraud Detection is an average example of arrangement. In this cycle, we have zeroed in on examining and pre- preparing informational indexes just as the sending of numerous irregularity discovery calculations, for example, Local Outlier Factor and Isolation Forest calculation on the PCA changed Credit Card Transaction

Machine Learning for Credit Card Fraud Detection

2021 ◽  
Author(s):  
Yuxin Gao ◽  
Shuoming Zhang ◽  
Jiapeng Lu ◽  
Yuxin Gao ◽  
Shuoming Zhang ◽  
...  
Keyword(s):  
Machine Learning ◽  
Credit Card ◽  
Fraud Detection ◽  
Credit Card Fraud
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