Analysis and Detection of Fraud in Credit Card Using SILOF

Abstract

Nowadays e-commerce and online transaction is growing rapidly. For online and offline transaction most of the customer uses credit card. Credit card used globally for online transaction, buy goods, product, and payment. The rising use of credit card can increase the chances of fraud in credit card. Credit card system is at risk now. The effect of this fraudulent transaction is on the bank and institute causing a financial loss to them. For the detection of distinguish frauds, several machine learning models are utilized for better prediction. The major objective of this article is to identify the fraudulent transaction and outlier in credit card transaction. The dataset of credit card is unbalanced. There are various techniques by which fraudulent transaction can be detected and we have used these techniques such as isolation forest method, local outlier factor and support vector machine to determine fraud in credit card. We have used different matrices for enhancing the performance and accuracy. At last comparison analysis is done by using isolation forest, support vector machine, and local outlier which give the better result.