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Credit card fraud detection

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Credit card fraud detection

  1. 1. Credit Card Fraud Detection
  2. 2. Contents • Introduction • Problem Definition • Proposed Solution • Block Diagram • Implementation • Software and Hardware Requirements • Benefits • Results and Conclusion
  3. 3. Introduction • Online Shopping – one of the largest and fast going trend • Mode of payment – credit card, debit card, Net Banking • Online payment does not require physical card • Major Risk – credit /debit card detail is known to other
  4. 4. Problem Definition • Online payment does not require physical card • Anyone who know the details of card can make fraud transactions • Currently, card holder comes to know only after the fraud transaction is carried out. • No mechanism to track the fraud transaction
  5. 5. Proposed Solution • A mechanism is developed to determine whether the given transaction is fraud or not • The mechanism uses Hidden Markov Model to detect fraud transaction • Hidden Markov Model works on the basis of spending habit of user. • Classifies user into Low, Medium or High category
  6. 6. Block Diagram User e-Commerce Website Bank FDS
  7. 7. Implementation • Project is implemented using following technologies : HTML, CSS, JavaScript, PHP and MySQL • HTML and CSS is used for interface designing • JavaScript is used for client side validation • PHP is used for server side scripting • MySQL is used for database
  8. 8. Hardware & Software Req. Online Auction System • Pentium Core 2 Duo processor or above • I GB RAM • 20 GB HDD • Router for Internet Connection • Windows 2000/ Windows XP/ Windows Vista/ Windows 7 • WAMP • Macromedia Dreamweaver
  9. 9. Benefits • Reduction in number of fraud transaction • User can safely use his credit / debit card for online transaction • Added layer of security
  10. 10. Results and Conclusion • Fraud detection is based on Hidden Markov Model which is learning algorithm, hence not 100% correct • It has detected those transaction as fraud where user belongs to low category and high category payment is made or vice versa • The mechanism require at least 10 transaction to determine accurately the transaction as fraud or not.