A STUDY ON CREDIT CARD DECEPTION EXPOSURE METHODS

Abstract−Credit card deception is a term used when someone credit card is used by some unauthorized person to buy supplies or services. Use of credit cards for online purchases has considerably improved due to the increase and quick growth of E-Commerce and it caused a sudden increase in the credit card deception. Credit card deception is a wide-ranging term for robbery and deception committed using a credit card as a fake source of funds in a given transaction. The credit card holder regularly has trouble reasserting control over the card, because generally they don't find out instantly, and the owner must distinguish genuine purchases from illegal in a reliable manner. Cases of deception associated with it are also growing as credit card and becomes the majority popular mode of payment for both online as well as regular purchase. Deceptive connections are scattered with authentic connections and simple pattern matching techniques are not often adequate to distinguish the deceptions exactly in real life. In order to reduce the bank losses, execution of proficient deception discovery methods has thus become important for all credit card issuing banks. Various recent methods based on Artificial Intelligence have developed in determining a variety of credit card deceiving transactions. A variety of techniques are used in credit card deception discovery mechanisms which are evaluated by each methodology based on certain design criteria.