Survey on Fraud Detection Techniques Using Data Mining

Now a days, fraud is a million dollar business and every year it is increasing more and more. In a crime survey in 2009, tells that close to 30% of the company’s worldwide reported falling victim to fraud in the past year. Fraud involves individual or in a form of groups who intentionally act secretly to rob another of something of worth, for their own profit. Fraud is as against the humanity and it is unlimited variety of different forms. So in this paper, we introduce different methods and techniques to tackle the fraud and how to prevent the fraud into the organization, businesses, and hospital and insurance companies. Fraud prevention is a continuing battle. Many website owners must continually fight against many kinds of crime ranging from stealing identity theft and credit cards and many other types of fraud related to that. Internet Fraud is also very popular, where fraudster can steal the credit card number and buy thing from the different websites.