Chapter No. Title NO.: 1.2 About The Project
Chapter No. Title NO.: 1.2 About The Project
INTRODUCTION
1.1 OBJECTIVES
The main objectives of the project are
Here are six key objectives for your "Credit Card Fraud Detection" project:
The "Credit Card Fraud Detection" project aims to develop a robust system capable of
detecting fraudulent transactions in credit card datasets. The project utilizes a variety of machine
learning algorithms, including Random Forest, AdaBoost, and Gradient Boosting, as part of the
existing system to identify potential fraudulent activities. These algorithms are widely known for
their efficiency in handling imbalanced datasets and providing accurate classification. However,
to enhance the detection process, the proposed system explores advanced models like Support
Vector Machines (SVM) and Convolutional Neural Networks (CNN), offering promising results
in terms of accuracy and computational efficiency.
The dataset used for training the models contains transaction records with various
features, such as transaction time, transaction amount, and a range of anonymized features (V1 to
V28). The 'Class' column in the dataset marks the transactions as either legitimate (0) or
fraudulent (1). Preprocessing steps, including feature scaling and handling class imbalances, play
a crucial role in improving model performance. Special attention is given to addressing the
highly imbalanced nature of the data, where fraudulent transactions are significantly fewer
compared to legitimate ones, through methods like oversampling or resampling.
The goal of this project is not only to evaluate the effectiveness of existing machine
learning models but also to push the boundaries by implementing state-of-the-art techniques like
SVM and CNN for fraud detection. By comparing these advanced models with traditional ones,
the project seeks to provide deeper insights into the strengths and weaknesses of different
approaches. Ultimately, this project aims to contribute to the development of more accurate,
reliable, and scalable fraud detection systems that can be implemented in real-world financial
applications to minimize credit card fraud.