Implementation Graph Database Framework for Credit Card Fraud Detection

Abstract

Credit card use is becoming more and more commonplace every day. Financial organizations and credit card customers lose a lot of money because of complicated illegal transactions. Fraudsters constantly stay on top of new technology to quickly perpetrate fraud against customer transaction patterns. We analyze credit card transaction networks and identify suspicious patterns, such as transactions connected to multiple accounts or unusual transaction patterns, transactions made at unusual times, and to monitor credit card transactions in real-time and quickly identify suspicious transactions. TigerGraph is used to analyze data, display results on a dashboard, and send notifications via email. One meth’\\Vc 1``13-od commonly used in anomaly detection is to compare data values against the standard deviation. In this research, we explain the use of TigerGraph as a platform for anomaly detection above the standard deviation, as well as the use of the Louvain algorithm in finding merchant communities used by fraudsters. The data used in this study comes from Sparkov simulation data obtained from Kaggle. Our results show that by using TigerGraph, we managed to achieve a very high accuracy rate of 99.77%, precision 82.84%, recall 72.38%, and f1-score 77,26% in predicting transaction fraud on Sparkov simulation data. This is much better than the results reported in a paper that uses the supervised machine learning method with the AdaBoost algorithm which achieves the highest accuracy of 77%.