Journal
IEEE INTERNET OF THINGS JOURNAL
Volume 5, Issue 5, Pages 3637-3647Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/JIOT.2018.2816007
Keywords
Behavioral patterns; concept drift; credit card fraud; machine learning; sliding window
Categories
Funding
- National Key Research Development Program of China [2017YFB1001804]
- Shanghai Science and Technology Innovation Action Plan Project [16511100900]
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With the rapid development of electronic commerce, the number of transactions by credit cards are increasing rapidly. As online shopping becomes the most popular transaction mode, cases of transaction fraud are also increasing. In this paper, we propose a novel fraud detection method that composes of four stages. To enrich a cardholder's behavioral patterns, we first utilize the cardholders' historical transaction data to divide all cardholders into different groups such that the transaction behaviors of the members in the same group are similar. We thus propose a window-sliding strategy to aggregate the transactions in each group. Next, we extract a collection of specific behavioral patterns for each cardholder based on the aggregated transactions and the cardholder's historical transactions. Then we train a set of classifiers for each group on the base of all behavioral patterns. Finally, we use the classifier set to detect fraud online and if a new transaction is fraudulent, a feedback mechanism is taken in the detection process in order to solve the problem of concept drift. The results of our experiments show that our approach is better than others.
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