Minimizing Credit Card False Alerts Using Genetic Algorithm

This paper describes about the detection of credit card fraud using genetic algorithm. It helps to mini- mize the number of false alerts. When a card is cop- ied or stolen or lost or captured by fraudsters, it is misused till the available limit is minimal. Hence, this approach focus on minimizing the total avail- able limit on cards subject to fraud rather than the number of correctly classified transactions. It aims in minimizing the false alerts using genetic algo- rithm where a set of interval valued parameters are optimized.