Fraud Detection in Credit Cards System Using ML with AWS Stage Maker

Abstract

Abstract: Credit card firms must be able to recognize fraudulent credit card transactions so that clients are not charged for products that they did not purchase. Data Science may be used to solve these issues, and coupled with machine learning, it is of utmost relevance. The goal of this project is to demonstrate how to model a data set using machine learning for credit card fraud detection. The Credit Card Fraud Detection Problem entails modelling previous credit card transactions using information from those that were later determined to be fraudulent. While the globe was under lockdown and movement was confined to an absolute emergency- millions were introduced to the world of internet shopping. The simplicity of internet buying helped ecommerce platforms generate unprecedented sales. It is not surprising that during that time, the rate of online financial fraud also skyrocketed. During the COVID-19 pandemic in 2020 compared to 2019, there was a historic increase of 225 percent in online fraud cases involving credit and debit cards.