Abstract: We have thousands of banks around the world and these banks revenue through a very small profit from each transaction. So from the bank perspective, they have no idea who is performing these transactions whether they are trusted or untrusted. All they know is that the transaction details have a correct card number and CVV and the user has input the transaction details successfully. but they still lack the ability to detect whether these transactions are coming from an authorized person or not. So whenever a fraud incident happens then the data analysis team needs to study the data and investigate the data and decide whether the transaction was trusted or not. If it was a fraudulent transaction, then the bank needs to compensate the user. This paper will discuss several fraud detection mechanisms that exist in the market already and will propose a new machine learning mechanism that helps to detect fraudulent transactions and helps industries to mitigate the fraud incident.
Keywords: K-N-N algorithm, machine learning, Fraud Detection.
Title: DEBIT AND CREDIT CARD FRAUD DETECTION USING K-N-N IN MACHINE LEARNING
Author: Ahmad Alammar, Yazeed Al Moayed, Nasir Ahmed Algeelani
International Journal of Engineering Research and Reviews
ISSN 2348-697X (Online)
Vol. 10, Issue 4, October 2022 - December 2022
Page No: 1-8
Research Publish Journals
Website: www.researchpublish.com
Published Date: 28-October-2022
