ANALYSIS OF THE MODERN TECHNIQUES AND METHODS ON CREDIT CARD FRAUD DETECTION

Abstract

As there is a vast advancement in the E-commerce technology, the use of credit cards has grown up. The credit card has become the crucial mode of payment so with the rise in the credit card transactions, the credit card frauds have also become frequent nowadays. Credit card frauds are increased day by day regardless of various techniques developed for its detection. Generate various new ways of committing fraudulent transactions each day which demands constant innovation for its detection techniques. Most of the modern methods are based on neural networks, Decision Tree, Fuzzy Darwinian System, Hidden Markov Model etc. This paper analyses about different types of techniques and methods to prevent the attacks and simulations.