Hands-On Artificial Intelligence for Cybersecurity

Fraud detection and prevention systems

There are various possible credit card fraud scenarios, including the following:

• Theft of credit cards: This is the most frequent case in practice; criminals steal or spend as much money as possible in a short time span. This activity is noisy and can be identified by means of anomalous or unusual pattern detection that's carried out with respect to the spending habits of the legitimate credit card holder.
• Credit card abuse: Unlike the previous case, fraudsters don't need to physically hold the credit card, but it is sufficient that they know the relevant information associated with the card (identification codes, PIN, personal identifier number, card number, device code, and so on). This is represented ...