Credit card fraud detection in the era of disruptive technologies: A systematic review

Credit card fraud is becoming a serious and growing problem as a result of the emergence of innovative technologies and communication methods, such as contactless payment. In this article, we present an indepth review of cutting-edge research on detecting and predicting fraudulent credit card transactions conducted from 2015 to 2021 inclusive. The selection of 40 relevant articles is reviewed and categorized according to the topics covered (class imbalance problem, feature engineering, etc.) and the machine learning technology used (modelling traditional and deep learning). Our study shows a limited investigation to date into deep learning, revealing that more research is required to address the challenges associated with detecting credit card fraud through the use of new technologies such as big data analytics, large-scale machine learning and cloud computing. Raising current research issues and highlighting future research directions, our study provides a useful source to guide academic and industrial researchers in evaluating financial fraud detection systems and designing robust solutions. & COPY; 2022 The Author(s). Published by Elsevier B.V. on behalf of King Saud University. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).

Automated summary

Credit card fraud is a serious problem due to emerging technologies like contactless payment. This article provides an in-depth review of cutting-edge research from 2015 to 2021 on detecting and predicting fraudulent credit card transactions. The study reveals limited investigation into deep learning, highlighting the need for more research to address challenges in detecting fraud using new technologies. This study serves as a valuable resource for academic and industrial researchers in evaluating fraud detection systems and designing solutions.