Fraudulent Financial Transactions Detection Using Machine Learning

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Abstract
It is crucial to actively detect the risks of transactions in a financial company to improve customer experience and minimize financial loss. In this study, we compare different machine learning algorithms to effectively and efficiently predict the legitimacy of financial transactions. The algorithms used in this study were: MLP Repressor, Random Forest Classifier, Complement NB, MLP Classifier, Gaussian NB, Bernoulli NB, LGBM Classifier, Ada Boost Classifier, K Neighbors Classifier, Logistic Regression, Bagging Classifier, Decision Tree Classifier and Deep Learning. The dataset was collected from Kaggle depository. It consists of 6362620 rows and 10 columns. The best classifier with unbalanced dataset was the Random Forest Classifier. The Accuracy 99.97%, precession 99.96%, Recall 99.97% and the F1-score 99.96%. However, the best classifier with balanced dataset was the Bagging Classifier. The Accuracy 99.96%, precession 99.95%, Recall 99.98% and the F1-score 99.96%.
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Archival date: 2022-03-31
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2022-03-31

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