REVIEW OF ONLINE FRAUD DETECTION BY MACHINE LEARNING USING ARTIFICIAL NEURAL NETWORK

The most common problem that hit our lives during this digital revolution is the "ONLINE FRAUDS". A day in our life starts with online payments, online shopping, transactions and what not everything, as it makes our life comfortable and much better than before. We venture into various online platforms everyday, where the fraudsters also use them to steal!!! RBI reports that nearly Rs.214.5 crore worth of online frauds detected in financial year 2019. Most recently machine learning has been applied in detecting online frauds in various sectors such as banking, medical, insurance. Various methods such as logical regression, decision tree, random forest, neural networks have been used to prevent the online frauds. This paper proposes a fraud detection model based on "Artificial neural network" (ANN) in the field of online transactions.