Call For Paper Volume:4 Issue:8 Aug'2017 |

CREDIT CARD APPLICATION FRAUD DETECTION SYSTEM USING MULTILAYER ALGORITHM

Publication Date : 28/02/2015



Author(s) :

Mr.Vipul Agrawal , Prof. Vijay Kumar Lokhande.


Volume/Issue :
Volume 2
,
Issue 2
(02 - 2015)



Abstract :

Identity crime is well known, prevalent, and costly; and credit application fraud is a specific case of identity crime, involving synthetic identity fraud and real identity theft. Identity crime has become prominent because there is so much real identity data available on the Web, and confidential data accessible through unsecured mailboxes. It has also become easy for perpetrators to hide their true identities. Credit card fraud is an element of identity fraud. It can have far reaching effects, since the information on the card can be used to perpetrate other types of identity theft crimes. The existing non-data mining detection system of business rules and scorecards, and known fraud matching have limitations. To address these limitations and combat identity crime in real time, this system designs a new multilayered detection system complemented with two additional layers: communal detection (CD) and spike detection (SD).CD finds real social relationships to reduce the suspicion score, and is tamper resistant to synthetic social relationships. It is the white list-oriented approach on a fixed set of attributes. SD finds spikes in duplicates to increase the suspicion score, and is probe-resistant for attributes. It is the attribute-oriented approach on a variable-size set of attributes. Together, CD and SD can detect more types of attacks, better account for changing legal behavior, and remove the redundant attributes. Although this research is specific to credit application fraud detection, the concept of resilience, together with adaptivity and quality data discussed in the paper [1], are general to the design, implementation, and evaluation of all detection systems.


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CREDIT CARD APPLICATION FRAUD DETECTION SYSTEM USING MULTILAYER ALGORITHM

February 28, 2015