Local Chapter Münich, Germany Chapter
Coordinated by Germany ,
Status: Completed
Project Duration: 23 Jul 2023 - 17 Aug 2023
Open Source resources available from this project
Project background.
Credit card fraud is a prevalent and costly problem affecting individuals, businesses, and financial institutions worldwide. According to industry reports, credit card fraud resulted in billions of dollars in losses annually. The increasing sophistication of fraudulent techniques, coupled with the rising volume of online transactions, highlights the urgent need for effective credit card fraud detection solutions. By developing accurate and efficient machine learning models, we can detect fraudulent transactions in real-time, minimize financial losses, protect customers’ assets, and maintain trust in the credit card ecosystem.
Project plan.
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Week 1
Research
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Week 2
Data Collection
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Week 3
Feature Extraction
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Week 4
Model Training
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Week 5
Model Deployment
Learning outcomes.
– Collaborators will gain practical project management skills by effectively planning, organizing, and executing a credit card fraud detection project within the given timeframe, and learning to manage resources, timelines, and deliverables.
– Collaborators will acquire in-depth knowledge and understanding of AI techniques and algorithms used in credit card fraud detection, including supervised learning, unsupervised learning, and anomaly detection, enabling them to apply these techniques to real-world scenarios.
– Collaborators will enhance their learning about AI by exploring and implementing advanced techniques such as ensemble learning, deep learning, or explainable AI, broadening their understanding of the capabilities and limitations of these methods in the context of credit card fraud detection.
