Machine Learning Project in Python Step-By-StepCredit Card Fraud… – Towards AI

Originally published on Towards AI. Photo by CardMapr on UnsplashWhat is Credit Card Fraud?Credit card fraud occurs when an individual uses someone else's credit card or account information without permission to make unauthorized purchases or withdraw funds through cash advances. It can happen both online and in physical stores. As a business owner, you can protect yourself from potential headaches and negative publicity by being vigilant and identifying instances of fraudulent credit card usage in your payment system. The objective of Credit Card Fraud Detection is to accurately identify fraudulent transactions from a large pool of credit card transactions by building a predictive model based on past transaction data.