Advanced Machine Learning Models for Detecting and Classifying Financial Fraud in Big Data-Driven
Year: 2024
Type: article
Abstract: The banking sector faces a major challenge in identifying credit card fraud, especially as online transactions increase. This study employs the Kaggle Credit Card Fraud Detection dataset to present a machine learning (ML)-based method to credit card fraud detection. The collection contains de-identified transaction information from European cardholders. With 284,807 transactions, only 492 included fraud, suggesting a significant disparity in class. Therefore, data balancing techniques were used to improve model training. Among the data pretreatment procedures were label encoding for categorical conversion and standardization to normalize feature scales. Using
Authors: Senior SDE, Cloudhub IT Solutions, USA, Achuthananda Reddy Polu
Language: English
Subfield: Artificial Intelligence
Field: Computer Science
Domain: Physical Sciences
Open Access status: bronze
OpenAlex ID: W4411380335