Fraud Detection with the Help of Hidden Markov Model and Neural Network
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Abstract
This paper discusses the status of research on detection of fraud. Now a day’s Many Peoples are using internet banking for online
Transaction we call it as E-commerce. As online transaction interest is increased associated with there are many frauds increasing such as using key
logger, virus and worms to reveal internet banking account information such as password and ID. In this paper we explained about how Fraud is
detected using Hidden Markov Model also care has been taken to prevent genuine Transaction should not be rejected by making use of one time
password which is generated by server and sent to Personal Mobile of Customer. the project is exploring the detection of fraudulent behaviour based
on a combination of absolute and differential usage. Three approaches are being investigated: a rule-based approach and two approaches based on
neural networks, where both supervised and unsupervised learning are considered. Special attention is being paid to the feasibility of the
implementations.
Keywords: Internet Banking, Hidden Markov Model, Neural network, fraud detection, Transaction.
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