Credit Card Fraud Detection Using Advanced Transformer Model
Fuente:
arXiv
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| Autores principales: | , , , , , |
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| Formato: | Preprint |
| Publicado: |
2024
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| Materias: | |
| Acceso en línea: | |
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| _version_ | 1866912114972557312 |
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| author | Yu, Chang Xu, Yongshun Cao, Jin Zhang, Ye Jin, Yinxin Zhu, Mengran |
| author_facet | Yu, Chang Xu, Yongshun Cao, Jin Zhang, Ye Jin, Yinxin Zhu, Mengran |
| contents | With the proliferation of various online and mobile payment systems, credit card fraud has emerged as a significant threat to financial security. This study focuses on innovative applications of the latest Transformer models for more robust and precise fraud detection. To ensure the reliability of the data, we meticulously processed the data sources, balancing the dataset to address the issue of data sparsity significantly. We also selected highly correlated vectors to strengthen the training process.To guarantee the reliability and practicality of the new Transformer model, we conducted performance comparisons with several widely adopted models, including Support Vector Machine (SVM), Random Forest, Neural Network, and Logistic Regression. We rigorously compared these models using metrics such as Precision, Recall, and F1 Score. Through these detailed analyses and comparisons, we present to the readers a highly efficient and powerful anti-fraud mechanism with promising prospects. The results demonstrate that the Transformer model not only excels in traditional applications but also shows great potential in niche areas like fraud detection, offering a substantial advancement in the field. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2406_03733 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Credit Card Fraud Detection Using Advanced Transformer Model Yu, Chang Xu, Yongshun Cao, Jin Zhang, Ye Jin, Yinxin Zhu, Mengran Machine Learning Artificial Intelligence With the proliferation of various online and mobile payment systems, credit card fraud has emerged as a significant threat to financial security. This study focuses on innovative applications of the latest Transformer models for more robust and precise fraud detection. To ensure the reliability of the data, we meticulously processed the data sources, balancing the dataset to address the issue of data sparsity significantly. We also selected highly correlated vectors to strengthen the training process.To guarantee the reliability and practicality of the new Transformer model, we conducted performance comparisons with several widely adopted models, including Support Vector Machine (SVM), Random Forest, Neural Network, and Logistic Regression. We rigorously compared these models using metrics such as Precision, Recall, and F1 Score. Through these detailed analyses and comparisons, we present to the readers a highly efficient and powerful anti-fraud mechanism with promising prospects. The results demonstrate that the Transformer model not only excels in traditional applications but also shows great potential in niche areas like fraud detection, offering a substantial advancement in the field. |
| title | Credit Card Fraud Detection Using Advanced Transformer Model |
| topic | Machine Learning Artificial Intelligence |
| url | https://arxiv.org/abs/2406.03733 |