Credit card fraud detection using artificial neural network

Abstract Frauds in credit card transactions are common today as most of us are using the credit card payment methods more frequently. This is due to the advancement of Technology and increase in online transaction resulting in frauds causing huge financial loss. Therefore, there is need for effective methods to reduce the loss. In addition, fraudsters find ways to steal the credit card information of the user by sending fake SMS and calls, also through masquerading attack, phishing attack and so on. This paper aims in using the multiple algorithms of Machine learning such as 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.