An Approach to Detect Fraud at Account Level

With the arrival of new technologies for the communications, payment cards transaction increasing rapidly day to day. Payment cards fraud such as Credit card/Debit card fraud is a critical and rising problem which became progressively widespread in recent years. There is a necessity of an operative system that detects frauds very effectively at account level. Hence it turn out to be necessary that the users require to stay a step forward in this situation. Banks have experienced an growth in deposits in the wake of the stock market fall of 2008, as money fled the market in search of secure place and protections from the further losses. This signaled a return by the banking industry to one of its core principles. Deposit growth and preservation is critical for bring back stability in the banking system, and banks are progressing their efforts on this vital funding activity. However an risen in deposits raises the threat of another, uninvited increasespecifically, in deposit account fraud. Keywords— Fraud detection, customer level fraud, account profile, account fraud, channel specific