A Novel Approach for Credit Card Fraud Detection Using LR Method - Comparative Studies

Creditcard fraud detection mechanism is the most needed one in present world. This due to development of e-commerce and online transaction. The main aim this paper predict fraudulent transactions a credit card transaction data set using statistical methods. Statistical methods based on Logistic Regression Random Forest are developed applied problems. work mainly focuses machine learning algorithms as classification model. model used for categorizing dataset into non-fraudulent transactions. project comprises analyzing extract meaningful statistics other characteristics data. use with different first compare performance R. results two accuracy, precision, recall, F1-score. ROC curve plotted confusion matrix. compared algorithm that has greatest F1 score considered best detect fraud.