Description
In the Credit Card Companies, illegitimate credit card usage is a serious problem which results in a need to accurately detect fraudulent transactions vs non-fraudulent transactions. All organizations can be hugely impacted by fraud and fraudulent activities, especially those in financial services. The threat can originate from internal or external, but the effects can be devastating – including loss of consumer confidence, incarceration for those involved, even up to downfall of a corporation. Despite regular fraud prevention measures, these are constantly being put to the test in an attempt to beat the system. Fraud detection is a task of predicting whether a card has been used by the cardholder. One of the methods to recognize fraud card usage is to leverage Machine Learning (ML) models. In order to more dynamically detect fraudulent transactions, one can train ML models on a set of dataset including credit card transaction information as well as card and demographic information of the owner of the account. This will be our goal of the project while leveraging Databricks. Connect with us: Website: https://databricks.com Facebook: https://www.facebook.com/databricksinc Twitter:…
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