Dataset

This dataset was created by Deepika A

Released under Apache 2.0

Contents

Dataset

This dataset was created by Kunal.Manore.

Contents

The global credit card fraud detection platform market is experiencing robust growth, driven by the escalating volume of digital transactions and the increasing sophistication of fraudulent activities. While precise figures for market size and CAGR are not provided, based on industry reports and observed trends, a reasonable estimation places the 2025 market size at approximately $15 billion. Considering the rapid adoption of advanced technologies like AI and machine learning in fraud detection, a conservative Compound Annual Growth Rate (CAGR) of 15% is projected for the forecast period (2025-2033). This growth is fueled by several factors, including the rising prevalence of e-commerce, the expanding adoption of mobile payments, and the increasing demand for robust security solutions from both personal and enterprise users. The market is segmented by screening type (manual and automatic) and application (personal and enterprise), with the automatic screening and enterprise segments expected to witness faster growth due to their efficiency and scalability. The competitive landscape is highly dynamic, with a mix of established players like Visa, Mastercard, and FICO, alongside innovative technology companies like Kount, Riskified, and Feedzai. These companies are continuously developing and deploying advanced algorithms and analytics to stay ahead of evolving fraud techniques. Regional growth varies, with North America and Europe currently holding significant market share, though Asia-Pacific is projected to exhibit rapid expansion due to increasing internet penetration and e-commerce adoption in developing economies. Challenges to market growth include the high cost of implementation and maintenance of these platforms, along with the need for continuous updates to counter evolving fraud tactics. However, the increasing financial losses incurred due to fraud are incentivizing businesses and consumers to invest in more sophisticated fraud detection solutions, thereby sustaining the market's upward trajectory.

Dataset

This dataset was created by Karthik

Contents

Payment card fraud - including both credit cards and debit cards - is forecast to grow by over 10 billion U.S. dollars between 2022 and 2028. Especially outside the United States, the amount of fraudulent payments almost doubled from 2014 to 2021. In total, fraudulent card payments reached 32 billion U.S. dollars in 2021. Card fraud losses across the world increased by more than 10 percent between 2020 and 2021, the largest increase since 2018.

Data

We provide you with a data set in CSV format. The data set contains 2 lakhh+ record train instances and 56 thousand test instance There are 31 input features, labeled V1 to V28 and Amount .

The target variable is labeled Class.

Task

Create a Classification model to predict the target variable Class.

1. A report - A Power point presentation
2. Any custom code you used
3. Instructions for me to run your model on a separate data set

What should be in the report?

1. List of any assumptions that you made
2. Description of your methodology and solution path
3. List of algorithms and techniques you used
4. List of tools and frameworks you used
5. Results and evaluation of your models

How to evaluate the model

1. Use the F1 Score for metrics
2. Any other evaluation measure that you believe is appropriate other than Accuracy.

The fraud detection and prevention (FDP) market was estimated to be worth 19.5 billion U.S. dollars in 2017. The projection for the market in 2023 exceeded 63 billion U.S. dollars. Firms offer FDP methods to prevent fraudulent insurance claims, identity theft, and money laundering.

How much fraud exists?

As of October 2018, around 23 percent of internet users have been a victim of online identity theft. These crime activities can be in the form of credit card fraud, tax related issues, or bank fraud, among other issues. While wire transfers still account for the highest value of fraud loss, technology-enabled frauds such as card-not-present (CNP) credit card fraud are increasingly common.

Other forms of fraud

When financial fraud is mentioned, it is sometimes associated with identity theft or Ponzi schemes like that carried out by Bernie Madoff. However, the most common economic crime reported is asset misappropriation, simply stealing something. Bribery, accounting fraud, and insider trading are also possible infringements. FDP vendors such as IBM, Oracle, SAP, and FICO watch against these, trying to stay one step ahead of the criminals.

Snapshot img

Fraud Detection And Prevention Market Size 2024-2028

The fraud detection and prevention market size is forecast to increase by USD 86.68 billion at a CAGR of 27.17% between 2023 and 2028.

In the current business landscape, the market is experiencing significant growth due to several key factors. The increasing adoption of cloud infrastructure services, such as cloud computing and big data, is driving market expansion. These technologies enable organizations to store and process large volumes of data, which is essential for advanced fraud detection techniques like anomaly detection. Moreover, the healthcare services sector is increasingly relying on fraud detection solutions to safeguard sensitive patient data. In addition, the rise of business intelligence (BI) and machine-to-machine (M2M) services is leading to an increased need for robust fraud prevention measures. Phone-based authentication solutions are also gaining popularity as an effective method for securing user identities and preventing fraud. The technological advancement in fraud detection and prevention solutions and services, coupled with the complexity of IT infrastructure, is further fueling market growth.

What will be the Size of the Fraud Detection And Prevention Market During the Forecast Period?

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The market encompasses a range of solutions designed to safeguard businesses and organizations from various types of financial and data breaches. Key end-use industries, including healthcare, manufacturing, governments, and IT , business intelligence and telecom, among others, increasingly rely on advanced technologies to mitigate risks. Market dynamics are driven by the growing adoption of cloud-based solutions, big data analytics, and blockchain technology. These innovations enable real-time fraud detection, enhancing the ability to prevent incidents such as payment fraud, identity theft, phishing scams, and money laundering. 
SMEs and large enterprises across sectors like travel and transportation, energy and utilities, media and entertainment, professional services, and insurance claims face similar challenges, making the market expansive and diverse. Authentication solutions, real-time fraud detection, and managed services are integral components of the market, catering to the evolving needs of businesses in an increasingly digital world.

How is this Fraud Detection And Prevention Industry segmented and which is the largest segment?

The fraud detection and prevention industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Component

  Solutions
  Services


End-user

  Large enterprise
  SMEs


Geography

  North America

    US
    Canada


  Europe

    Germany
    Spain
    UK


  APAC

    China
    Japan
    India


  South America

    South Africa


  Middle East and Africa

By Component Insights

The solutions segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth due to escalating cyber threats and the increasing need for robust security measures. Key drivers include the rising number of fraudulent activities such as identity theft, money laundering, and phishing scams, as well as economic uncertainty and the pandemic. In the solutions segment, authentication solutions have emerged as a major revenue generator. However, the high cost of biometric technology may hinder growth in this area. SMEs, healthcare, manufacturing, end-use enterprises, governments, IT and telecom, travel and transportation, energy and utilities, media and entertainment, and financial institutions are among the key industries investing in fraud detection and prevention. Digital technologies, including cloud-based solutions, Big Data, artificial intelligence, and machine learning, are increasingly being adopted for real-time fraud detection. Fraud complexity and online data transactions pose significant challenges, necessitating proactive measures and trained cybersecurity professionals.

Get a glance at the Fraud Detection And Prevention Industry report of share of various segments Request Free Sample

The Solutions segment was valued at USD 11.84 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 40% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American the market is projected to expand substantially due to the increasing prevalence of cyber threats in sectors like healthcare

Dataset

This dataset was created by Ravibilla16

Contents

Card fraud losses across the world increased by more than 10 percent between 2020 and 2021, the largest increase since 2018. It was estimated that merchants and card acquirers lost well over 30 billion U.S. dollars, with - so the source adds - roughly 12 billion U.S. dollar coming from the United States alone. Note that the figures provided here included both credit card fraud and debit card fraud. The source does not separate between the two, and also did not provide figures on the United States - a country known for its reliance on credit cards.

Dataset

This dataset was created by Shweta Kumari

Released under CC0: Public Domain

Contents

The size of the US Healthcare Fraud Detection Industry market was valued at USD 0.78 Million in 2023 and is projected to reach USD 3.25 Million by 2032, with an expected CAGR of 22.60% during the forecast period. The U.S. healthcare fraud detection industry is increasing dramatically; this increase, due to rising cases of fraudulent activities in the health sector, typically encompasses billing fraud, identity theft, and fraudulent use of services. As healthcare costs continue to rise, fraudulent actions that go undetected or those which are not caught in time contribute to losses to the insurance companies as well as losses to patients, which may compromise the integrity of health systems. Technological advancements, especially in the application of AI and ML, are key drivers for market growth. These technologies improve capabilities to analyze large volumes of data, define trends, pinpoint anomalies, and highlight suspicious claims in real-time. Regulatory oversight and strict compliance requirements are compelling healthcare organizations to invest in robust fraud-detection solutions. The increasing telehealth services, especially after and following the COVID-19 pandemic, also point to a high requirement for fraud-detection mechanisms, since new vulnerabilities have emerged in the delivery of health care through remote health services. Besides, more robust coordination among government agencies and private insurers is paving the way for a more integrated approach toward taming healthcare fraud. Geographical wise, North America, primarily the U.S., dominates the healthcare fraud detection market as it holds the most significant expenditure on health care and also possesses the most advanced technological solutions. However, with increasing awareness and strict regulations, other regions are also developing further. Growth of the U.S. Healthcare Fraud Detection Industry would require continued commitment toward protecting healthcare resources, increased compliance, and overall effectiveness in the delivery system. As technology advances and fraud schemes evolve, so will the demand for new detection solutions - or in other words, market advances in the years ahead. Recent developments include: In April 2022, Hewlett Packard Enterprise reported the launch of HPE Swarm Learning, a breakthrough AI solution to accelerate insights at the edge, from diagnosing diseases to detecting credit card fraud, by sharing and unifying AI model learnings without compromising data privacy., In April 2022, IBM introduced the IBM z16, a next-generation system with an integrated on-chip AI accelerator that enables latency-optimized inference. This innovation is intended to enable clients to evaluate real-time transactions at scale, such as credit card, healthcare, and financial activities.. Key drivers for this market are: Increasing Fraudulent Activities in the US Healthcare Sector, Growing Pressure to Increase the Operation Efficiency and Reduce Healthcare Spending; Prepayment Review Model. Potential restraints include: Lack of Skilled Healthcare IT Labors in the Country. Notable trends are: Insurance Claims Segment is is Expected to Witness a Healthy Growth in Future..

The global credit monitoring service market is experiencing robust growth, driven by increasing instances of identity theft and fraud, coupled with rising consumer awareness of the need for proactive credit protection. The market, estimated at $15 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 12% from 2025 to 2033, reaching an estimated market value of approximately $45 billion by 2033. This expansion is fueled by several key trends, including the increasing adoption of digital platforms and mobile applications for credit monitoring, the integration of advanced technologies like AI and machine learning for fraud detection, and the growing demand for comprehensive identity protection services bundled with credit monitoring. The market segmentation reveals a significant share held by credit card monitoring services within the personal application segment, reflecting consumer concern over potential financial risks associated with credit card usage. Major market players such as Experian, Equifax, TransUnion, and Norton LifeLock are driving innovation and competition, constantly expanding their product portfolios and enhancing their service offerings to cater to the evolving needs of consumers and businesses. However, factors like data privacy concerns, the complexity of the regulatory landscape, and the potential for market saturation in certain regions act as restraints on market growth. Despite these challenges, the continued rise in cybercrime and financial fraud will likely sustain high demand for credit monitoring services, solidifying the market's trajectory of robust expansion over the forecast period. Regional analysis indicates that North America currently holds the largest market share, followed by Europe and Asia Pacific, reflecting the relatively higher levels of digital adoption and financial literacy in these regions.

Dataset

This dataset was created by Sandipan Mondal

Contents

Artificial intelligence (AI) in the payments industry showed one potential use case in particular, according to industry seniors in a 2024 survey. Chatbots and the personalization of customer experience were on the mind of payment experts during the summer of 2024. However, more than eight out of 10 respondents felt AI was best used for fraud detection or preventing fraud. This is in line with results from 2023, when banks also listed fraud detection as a major use case for generative AI. Payment card fraud - including both credit cards and debit cards - is forecast to grow by over 10 billion U.S. dollars between 2022 and 2028.

Dataset

This dataset was created by Aaditya Gupta

Released under Apache 2.0

Contents

The size of the Credit Cards Market was valued at USD 14.31 Million in 2023 and is projected to reach USD 18.42 Million by 2032, with an expected CAGR of 3.67% during the forecast period. A credit card is a payment card issued by financial institutions that allows cardholders to borrow funds to pay for goods and services. It operates on a system of revolving credit, where users are given a credit limit up to which they can borrow. The borrowed amount, known as the balance, must be repaid either in full by a specified due date or over time, with interest charged on the outstanding balance if not paid in full. Credit cards are widely accepted globally and provide convenience for both online and in-store purchases. When a person uses a credit card, the issuer (typically a bank) pays the merchant on behalf of the cardholder. The cardholder then repays the issuer, either immediately without interest or over time with added interest, depending on the card’s terms. Credit cards often come with various rewards and benefits, such as cashback, travel miles, or points that can be redeemed for products or services. They also offer consumer protections like fraud detection and chargeback options in case of disputes with merchants. Recent developments include: May 2023: Singapore's DBS Bank looks to complete its retail product offering by adding a super-premium credit card as soon as this week as it seeks to consolidate its position two-and-a-half years after acquiring Lakshmi Vilas Bank (LVB)., May 2023: NPCI leans on bank partnerships to push RuPay credit cards.. Key drivers for this market are: Usage of Credit Card give the bonus and reward points. Potential restraints include: Interest rates on Credit Card. Notable trends are: Increasing Number of Visa Credit Cards Internationally.

According to a 2022 study, credit card verification services are the most common fraud detection tool among online merchants worldwide, used by 55 percent employing this method. Identity validation and verification services rank second, with half of the world's e-merchants using it, followed by two-factor telephone authentication at 44 percent.

Explore the eCommerce Fraud Detection And Prevention Global Market Report 2025 Market trends! Covers key players, growth rate 21.3% CAGR, market size $160.02 Billion, and forecasts to 2033. Get insights now!