Performance Analysis of Different Machine Learning Algorithms on Credit Card Fraud Detection

Abstract

Machine learning (ML) is a logical investigation of various algorithms and factual models that PCs utilize to carry out particular operations that are not clearly programmed. This paper aims to statistically analyze different machine learning algorithms, and compare and contrast their performance for credit card fraud detection. Algorithms used are Artificial Neural Networks(ANN), Sample Vector Machine (SVM), and Kth Nearest Neighbour (KNN), Decision Tree, Logistic Regression and Random Forest. All these above mentioned algorithms are compared on basis of performance measures. It is deduced that the random forest algorithm is the best algorithm.