Identification of Fraud in Banking Data and Financial Institutions Using Classification Algorithms

In recent years, due to the expansion of financial institutions,as well as the popularity of the World Wide Weband e-commerce, a significant increase in the volume offinancial transactions observed. In addition to the increasein turnover, a huge increase in the number of fraud by user’sabnormality is resulting in billions of dollars in lossesover the world. Therefore, fraud detection techniques toidentify users motivated to do a lot of scientific research.To check the volume of such information data miningtechniques used. Data mining, knowledge discovery processthat finding patterns in large data sets by combiningtechniques from statistics, artificial intelligence, databasemanagement and etc. In data mining techniques we examineand analyze information to discover uncertaincommunication and hidden patterns of data. This studyaimed to detect fraud in banking data using classificationalgorithms.