International Journal of Electrical and Computer Engineering
Vol 13, No 5: October 2023

Concept drift and machine learning model for detecting fraudulent transactions in streaming environment

Arati Shahapurkar (KLS Gogte Institute of Technology)
Rudragoud Patil (KLS Gogte Institute of Technology)



Article Info

Publish Date
01 Oct 2023

Abstract

In a streaming environment, data is continuously generated and processed in an ongoing manner, and it is necessary to detect fraudulent transactions quickly to prevent significant financial losses. Hence, this paper proposes a machine learning-based approach for detecting fraudulent transactions in a streaming environment, with a focus on addressing concept drift. The approach utilizes the extreme gradient boosting (XGBoost) algorithm. Additionally, the approach employs four algorithms for detecting continuous stream drift. To evaluate the effectiveness of the approach, two datasets are used: a credit card dataset and a Twitter dataset containing financial fraud-related social media data. The approach is evaluated using cross-validation and the results demonstrate that it outperforms traditional machine learning models in terms of accuracy, precision, and recall, and is more robust to concept drift. The proposed approach can be utilized as a real-time fraud detection system in various industries, including finance, insurance, and e-commerce.

Copyrights © 2023






Journal Info

Abbrev

IJECE

Publisher

Subject

Computer Science & IT Electrical & Electronics Engineering

Description

International Journal of Electrical and Computer Engineering (IJECE, ISSN: 2088-8708, a SCOPUS indexed Journal, SNIP: 1.001; SJR: 0.296; CiteScore: 0.99; SJR & CiteScore Q2 on both of the Electrical & Electronics Engineering, and Computer Science) is the official publication of the Institute of ...