The Investigation of Real-Time Credit Card Fraud Detection (RTCCFD) Based on Machine Learning and Apache Spark

Jiacheng He

2024

Abstract

This paper presents a comprehensive review of the advancements in Real-time Credit Card Fraud Detection (RTCCFD), leveraging machine learning algorithms and Apache Spark. With financial fraud, particularly credit card fraud, posing significant losses to society and becoming increasingly prevalent due to the advent of new internet technologies, there is a pressing need for efficient detection systems. This study highlights the critical role of machine learning algorithms, such as Random Forest and Neural Networks, which, when integrated with Apache Spark, offer substantial improvements in processing speed and detection accuracy. Through an analysis of various research efforts, including the use of ensemble models and real-time processing frameworks, this paper demonstrates the effectiveness of these technologies in identifying fraudulent transactions. However, it also addresses the significant challenges that remain, including the lack of model interpretability, the need for models to generalize across evolving fraud tactics, and the imperative of ensuring data privacy and security in sensitive financial contexts. By discussing potential solutions like Federated Learning for enhancing privacy and suggesting directions for future research, this review aims to outline the progress made in the field while acknowledging the hurdles that lie ahead in the quest for more secure and trustworthy financial transactions.

Paper Citation

in Harvard Style

He J. (2024). The Investigation of Real-Time Credit Card Fraud Detection (RTCCFD) Based on Machine Learning and Apache Spark. In Proceedings of the 1st International Conference on Engineering Management, Information Technology and Intelligence - Volume 1: EMITI; ISBN 978-989-758-713-9, SciTePress, pages 52-56. DOI: 10.5220/0012900800004508

in Bibtex Style

@conference{emiti24,
author={Jiacheng He},
title={The Investigation of Real-Time Credit Card Fraud Detection (RTCCFD) Based on Machine Learning and Apache Spark},
booktitle={Proceedings of the 1st International Conference on Engineering Management, Information Technology and Intelligence - Volume 1: EMITI},
year={2024},
pages={52-56},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0012900800004508},
isbn={978-989-758-713-9},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 1st International Conference on Engineering Management, Information Technology and Intelligence - Volume 1: EMITI
TI - The Investigation of Real-Time Credit Card Fraud Detection (RTCCFD) Based on Machine Learning and Apache Spark
SN - 978-989-758-713-9
AU - He J.
PY - 2024
SP - 52
EP - 56
DO - 10.5220/0012900800004508
PB - SciTePress