Credit Card Fraud Detection Using Hidden Markov Model

Credit Card Fraud Detection Using Hidden Markov Model

Credit cards are used for purchasing goods and services by the help of virtual card for online transaction. Tracing fraudulent transactions in this mode may not be possible because the attacker already steal the credit card. Attackers need only little information for doing fraudulent transaction (secure code, card number, expiration date). Risks of fraud transaction using credit card has also been increasing. We proposed new credit card fraud detection system using Hidden Markov Model.