Credit Card Fraud Detection Using Self-Organizing Maps

Publication Type:

Journal Article

Source:

Information & Security: An International Journal, Volume 18, p.48-63 (2006)

Keywords:

Fraud Detection, Payment System, Self Organizing Map, Transaction

Abstract:

Nowadays, credit card fraud detection is of great importance to financial institutions. This article presents an automated credit card fraud detection system based on the neural network technology. The authors apply the Self-Organizing Map algorithm to create a model of typical cardholder’s behavior and to analyze the deviation of transactions, thus finding suspicious transactions.
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