Credit card is one of the popular modes of payment for electronic transactions. With the developments in the information technology, fraud is spreading all over the world, resulting in huge financial losses. Credit card fraud is a serious and growing problem. In this paper, machine learning algorithms are used to detect credit card fraud. Standard models are used first. Then, hybrid methods which use AdaBoost and majority voting methods are applied. We present detailed experimental results to show the effectiveness of our approach and compare it with other techniques available in the literature. This paper provides a picture of recent trend in credit card fraud detection.
