A New Approach for Fraud Detection with Artificial Intelligence

Due to the ease of use in payments, credit cards now have become one of the most preferred tools for on-site and online shopping payments. As demand for credit cards grows significantly, a wide variety of fraud approaches, such as identity fraud and phishing, emerge to steal money from credit card fraudsters. Fraud detection and prevention systems have become imperative due to the damage of both banks and their customers. The most widely used fraud detection systems now use artificial intelligence and machine learning techniques. However, these techniques are not mature enough. In this study, a new approach for credit card fraud detection with artificial intelligence is proposed. Experimental results have shown that the proposed approach may be used to detect fraud in e-commerce systems.