Internet Banking Fraud Detection Using Deep Learning Based on Decision Tree and Multilayer Perceptron

Fraud transactions have become a growing problem in the online banking sphere. As technology progresses, fraudsters also change their methods of committing fraud. There are also emerging technologies that allow fraudsters to mimic the transaction behavior of genuine customers and they also keep changing their methods so that it is difficult to detect fraud. This paper discusses the importance of fraud detection methods and compares Hidden Markov Model, Deep Learning, and Neural Network that are used to detect fraud in online banking transactions.