Credit Card Fraud Detection: Challenges and Techniques

ABSTRACT

Credit card usage has risen dramatically as a result of rapid advancements in electronic commerce and the unexpected circumstance of COVID. With credit cards becoming the most popular payment method for both offline and online transactions, the number of cases of fraud associated with them is rapidly increasing. In case of online fraud, it is not necessary for the perpetrators to be present at the scene of crime. The fraudulent activities can be accomplished by them in the seclusion of their homes through a multitude of methods for disguising their identities. VPNs are one way to obscure one's identity, as is routing communication through any Tor network for the victim, making it difficult to track back the culprit. © 2022 IEEE.