Credit Card Fraud Detection: A Novel Approach Using Aggregation Strategy and Feedback Mechanism

Tags: , , ,

Aim:

The main aim of the project is to identify the Credit card Fraud transaction that has been initiated by the any user and to avoid that type of transaction.

Existing System:

In Existing the transaction will be successful once if the user enters the correct pin pass of that particular card but there is a drawback as server will not identify the user and process the user transaction but that transaction might be done any false user as in online transaction there is lot of security issues. As there is advanced technology that user to hack the user credit card detail including user pin number.

Proposed System:

In this project we are proposing a new technique to detect the credit card fraud detection based on the location from where the user uses his credit card. User uses his credit card for transaction of cash. During transaction the server will save the information like amount and location from where the transaction takes place. If a transaction takes place from a new location the server sends the information to credit card user for second level authentication. After second level authentication is done the transaction takes place so that we can avoid credit card fraud.

Proposed System:

To Identify the Fraud transaction server need to maintain user transaction data like transaction processed location, merchant name, and amount of transaction that process based on these server will maintain the transaction data.