Identification of Fraud in Banking Data and Financial Institutions Using Classification Algorithms

In recent years, due to the expansion of financial institutions, as well as the popularity of the World Wide Web and e-commerce, a significant increase in the volume of financial transactions observed. In addition to the increase in turnover, a huge increase in the number of fraud by user’s abnormality is resulting in billions of dollars in losses over the world. Therefore, fraud detection techniques to identify users motivated to do a lot of scientific research. To check the volume of such information data mining techniques used. Data mining, knowledge discovery process that finding patterns in large data sets by combining techniques from statistics, artificial intelligence, database management and etc. In data mining techniques we examine and analyze information to discover uncertain communication and hidden patterns of data. This study aimed to detect fraud in banking data using classification algorithms.