RHSOFS: Feature Selection Using the Rock Hyrax Swarm Optimization Algorithm for Credit Card Fraud Detection System

Abstract

In recent years, detecting credit card fraud transactions has been a difficult task due to the high dimensions and imbalanced datasets. Selecting a subset of important features from a high-dimensional dataset has proven to be the most prominent approach for solving high-dimensional dataset issues, and the selection of features is critical for improving classification performance, such as the fraud transaction identification process. To contribute to the field, this paper proposes a novel feature selection (FS) approach based on a metaheuristic algorithm called Rock Hyrax Swarm Optimization Feature Selection (RHSOFS), inspired by the actions of rock hyrax swarms in nature, and implements supervised machine learning techniques to improve credit card fraud transaction identification approaches. This approach is used to select a subset of optimal relevant features from a high-dimensional dataset. In a comparative efficiency analysis, RHSOFS is compared with Differential Evolutionary Feature Selection (DEFS), Genetic Algorithm Feature Selection (GAFS), Particle Swarm Optimization Feature Selection (PSOFS), and Ant Colony Optimization Feature Selection (ACOFS) in a comparative efficiency analysis. The proposed RHSOFS outperforms existing approaches, such as DEFS, GAFS, PSOFS, and ACOFS, according to the experimental results. Various statistical tests have been used to validate the statistical significance of the proposed model.