Application of Neural Network in Fraud Detection Using Business Concepts

Abstract

Intense global and local technological augment and diminishing trade barriers are making life difficult for businesses. At a time when customers have revolutionary expectations, sophisticated decision system modeling is pivotal to an organization's business strategy. This era is e-payment focused, and emphasizes enhanced operational efficiencies. Other necessary attributes needed to compete successfully include facilitating customer services and satisfaction, risk management, decision support systems, major breakdown of trade barriers, enhanced security and privacy, market forces, better technology, communication etc. Electronic payment system is essential for proper functioning of the electronic market on the Internet. The significance of electronic payment system is enhanced by the effective use of credit card system at the electronic market online. However, the time has come to break down the psychological, culture and traditional barriers and adapt the value-added component of the secure electronic payment tool. Neural Network (NN) is a revolutionary changing process for online business trading and should be adopted for safety and security of one’s own business, and to join the global bandwagon of technical trends.