Research on Credit Card Fraud Detection Model Based on Distance Sum

Along with increasing credit cards and growing trade volume in China, credit card fraud rises sharply. How to enhance the detection and prevention of credit card fraud becomes the focus of risk control of banks. This paper proposes a credit card fraud detection model using outlier detection based on...

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Bibliographic Details
Main Authors: Wen-Fang Yu, Na Wang
Format: Conference Proceeding
Language:English
Subjects:
Artificial intelligence
Computer science
credit card
Credit cards
Data analysis
Data mining
Database systems
Detection algorithms
distance sum
Educational institutions
fraud detection
Nearest neighbor searches
outlier
Statistical distributions
Online Access:Request full text
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Summary:Along with increasing credit cards and growing trade volume in China, credit card fraud rises sharply. How to enhance the detection and prevention of credit card fraud becomes the focus of risk control of banks. This paper proposes a credit card fraud detection model using outlier detection based on distance sum according to the infrequency and unconventionality of fraud in credit card transaction data, applying outlier mining into credit card fraud detection. Experiments show that this model is feasible and accurate in detecting credit card fraud.
DOI:10.1109/JCAI.2009.146