A Study on Fraud Detection Based on Data Mining Using Decision Tree

Fraud is a million dollar business and it is increasing every year. The U.S. identity fraud incidence rate increased in 2008 returning to levels unseen since 2003. Almost 10 million Americans learned they were victims of IDentity (ID) fraud in 2008 which is up from 8.1 million victims in 2007. More consumers are becoming IDentity (ID) fraud victims reversing the previous trend in which IDentity (ID) fraud had been gradually decreasing. This reverse makes sense since overall criminal activity tends to increase where there is a recession.