Modelling Credit Card Fraud Detection

Credit card frauds are a "still growing" problem in the world. Losses in frauds were estimated in more than US$27 billion in 2018 and are still projected to grow significantly for the next years as this article shows. With more and more people using credit cards in their daily routine, also increased the interest of criminals in opportunities to make money from that. The development of new technologies puts both criminals and credit card companies in a constant race to improve their systems and techniques. With that amount of money at stake, Machine Learning is surely not a new word for credit card companies, which have been investing on that long before it was a trend, to create and optimize models of risk and fraud management.