Exploration of Techniques for Detecting Credit Card Fraud (A Survey)

With the rapid advancement of electronic commerce technology, there has been a significant increase in the usage of credit cards.As credit cards have become the most popular mode of payment, the occurrence of associated fraud cases has also seen a rise.This paper presents a comprehensive review of existing techniques for detecting credit card fraud.Fraud detection aims to swiftly identify fraudulent activities as they occur.Methods for fraud detection are continually evolving to counter criminals who adapt their strategies.Transactions are categorized as normal, abnormal, or suspicious based on initial assessments.If a transaction is flagged as suspicious, its likelihood of being fraudulent or genuine is further evaluated using Bayesian learning techniques.