Analytiguard: Pioneering Data Analytics For Proactive Credit Card Fraud Detection

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Dr. V. Dhanakoti; R. Maanasa; P. Mohan Kumar; B. Muthu Kiruba

Analytiguard: Pioneering Data Analytics For Proactive Credit Card Fraud Detection

Authors: Dr. V. Dhanakoti, R. Maanasa, P. Mohan Kumar, B. Muthu Kiruba

Unique Paper ID: 162663
Volume: 10
Issue: 10
PageNo: 673-678

Keywords: Credit card fraud detection Random forest classifier Web-based interface Pattern recognition Time- aware gate Current-historical attention module Interaction module Accuracy.

Abstract:
Credit card fraud detection is a critical challenge in today's digital economy, where fraudulent activities can easily hide among numerous legitimate transactions. This paper presents a novel approach that leverages a random forest classifier along with a web-based interface to enhance the accuracy and efficiency of credit card fraud detection. Unlike traditional methods, our approach incorporates a unique representation of each transaction based on a user's past behaviors, allowing for more accurate pattern recognition. Additionally, we introduce enhancements to the classifier, including a time-aware gate, a current-historical attention module, and an interaction module, which improve the model's ability to detect fraudulent actions. Our results demonstrate that our proposed system achieves an impressive accuracy rate of 93%, outperforming existing methods commonly used for fraud detection. Furthermore, we provide a user-friendly web-based interface, which allows for easy access and interpretation of the detection results, enabling financial institutions to take timely actions against fraudulent activities. Moreover, our methodology incorporates several enhancements to the random forest classifier, each designed to bolster its efficacy in detecting fraudulent activities. These enhancements include a time-aware gate, which accounts for temporal dynamics in transactional data, a current-historical attention module, which prioritizes recent transactions while considering historical patterns, and an interaction module, which captures complex relationships between various transactional features. Collectively, these refinements empower the classifier to more accurately identify anomalous patterns indicative of fraudulent behavior.

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ISSN: 2349-6002
Volume: 10
Issue: 10
PageNo: 673-678

Analytiguard: Pioneering Data Analytics For Proactive Credit Card Fraud Detection

Available:https://ijirt.org/article?manuscript=162663

Impact Factor
8.01 (Year 2024)

UGC Approved
Journal no 47859

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