CreditCardFraudDetection

Although digital transactions in India registered a 51% growth in 2018-19, their safety remains a concern. Fraudulent activities have increased severalfold, with around 52,304 cases of credit/debit card fraud reported in FY'19 alone. Due to this steep increase in banking frauds, it is the need of the hour to detect these fraudulent transactions in time in order to help consumers as well as banks, who are losing their credit worth each day. Machine learning can play a vital role in detecting fraudulent transactions. Imagine you get a call from your bank, and the customer care executive informs you that your card is about to expire in a week. Immediately, you check your card details and realise that it will expire in the next 8 days. Now, in order to renew your membership, the executive asks you to verify a few details such as your credit card number, the expiry date and the CVV number. Will you share these details with the executive? In such situations, you need to be careful because the details that you might share with them could grant them unhindered access to your credit card account.The aim of this project is to predict fraudulent credit card transactions using machine learning models. The data set that you will be working on during this project was obtained from Kaggle. It contains thousands of individual transactions that took place over a course of two days and their respective labels.