ABSTRACT
The advancement of technology ensured maximum utilisation of credit cards thus also leading to expansion in the online credit card deceitful actions, leading to one of the critical concern as finance plays a dominant sector in one’s life. Big data technology and increased use of credit cards made traditional methods to detect fraudulent transactions inefficient nowadays. The goal of the work is to analyse different techniques of big data analysis and machine learning algorithms adapted for detection of fraud in credit cards in order to distinguish potential fraudulent transactions thus reducing the financial loss globally. The vast growth of data resulting from e-commerce applications are at high risk to attacks, therefore in this paper there is an exploration of uses of big data techniques requiring advanced tools for development of a well-organised framework to detect fraud.
