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A Fraud Detection Framework Using Machine Learning Approach

Authors:
Aderonke Thompson
Oghenerukvwe Oyinloye
Leon Aborisade
Esther Odeniyi

Keywords: fraud; credit cards; Multi-layer perceptron

Abstract:
Credit card fraud describes cases in which a threat actor gains unauthorized access in order to obtain money or property. The importance of machine learning and Data Science cannot be over emphasized. This work develops an efficient fraud detection framework using non-rule-based approach of Multi-layer perceptron. It correctly predicts and detects frauds on a given financial transaction dataset. The algorithm on the datasets evaluates its effectiveness vis-à-vis frauds detection in bank transactions. The results are compared and evaluated using various evaluation metrics.

Pages: 12 to 18

Copyright: Copyright (c) IARIA, 2019

Publication date: September 22, 2019

Published in: conference

ISSN: 2519-8599

ISBN: 978-1-61208-743-6

Location: Porto, Portugal

Dates: from September 22, 2019 to September 26, 2019