A game-theoretic approach to credit card fraud detection

Authors:
Vishal Vatsa;Shamik Sural;A. K. Majumdar
Affiliations:
Department of Computer Science & Engineering;School of Information Technology, Indian Institute of Technology, Kharagpur, India;Department of Computer Science & Engineering
Venue:
ICISS'05 Proceedings of the First international conference on Information Systems Security
Year:
2005

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Abstract

Intrusion prevention mechanisms are largely insufficient for protection of databases against Information Warfare attacks by authorized users and has drawn interest towards intrusion detection. We visualize the conflicting motives between an attacker and a detection system as a multi-stage game between two players, each trying to maximize his payoff. We consider the specific application of credit card fraud detection and propose a fraud detection system based on a game-theoretic approach. Not only is this approach novel in the domain of Information Warfare, but also it improvises over existing rule-based systems by predicting the next move of the fraudster and learning at each step.