Performance Analysis of Machine Learning Algorithms in Credit Cards Fraud Detection

Abstract

Credit cards are very commonly used in making online payments. In recent years' frauds are reported which are accomplished using credit cards. It is very difficult to detect and prevent the fraud which is accomplished using credit card. Machine Learning(ML) is an Artificial Intelligence (AI) technique which is used to solve many problems in science and engineering. In this paper, machine learning algorithms are applied on a data set of credit cards frauds and the power of three machine learning algorithms is compared to detect the frauds accomplished using credit cards. The accuracy of Random Forest machine learning algorithm is best as compared to Decision Tree and XGBOOST algorithms.

Topics & Concepts