Predictive Modelling for Credit Card Fraud Detection Using Data Analytics

Abstract

The finance and banking is very important sector in our present day generation, where almost every human has to deal with bank either physically or online [10]. The productivity and profitability of both public and private sector has tremendously increased because of banking information system. Nowadays most of E-commerce application system transactions are done through credit card and online net banking. These systems are vulnerable with new attacks and techniques at alarming rate. Fraud detection in banking is one of the vital aspects nowadays as finance is major sector in our life. As data is increasing in terms of Peta Bytes (PB) and to improve the performance of analytical server in model building, we have interface analytical framework with Hadoop which can read data efficiently and give to analytical server for fraud prediction. In this paper we have discussed a Big data analytical framework to process large volume of data and implemented various machine learning algorithms for fraud detection and observed their performance on benchmark dataset to detect frauds on real time basis there by giving low risk and high customer satisfaction.