A cost-sensitive decision tree approach for fraud detection

@article{Sahin2013ACD,
  title={A cost-sensitive decision tree approach for fraud detection},
  author={Yusuf Sahin and Serol Bulkan and Ekrem Duman},
  journal={Expert Syst. Appl.},
  year={2013},
  volume={40},
  pages={5916-5923}
}
With the developments in the information technology, fraud is spreading all over the world, resulting in huge financial losses. Though fraud prevention mechanisms such as CHIP&PIN are developed for credit card systems, these mechanisms do not prevent the most common fraud types such as fraudulent credit card usages over virtual POS (Point Of Sale) terminals or mail orders so called online credit card fraud. As a result, fraud detection becomes the essential tool and probably the best way to… CONTINUE READING
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