PUNE DISTRICT EDUCATION ASSOCIATION

THE INSTITUTE OF TECHNOLOGY, HADAPSAR, PUNE.

A MICRO-PROJECT REPORT

COURSE NAME- PROGRAMMING WITH PYTHON

COURSE CODE- 22616

DEPARTMENT OF COMPUTER ENGINEERING

(2022-23)

ROLL NO NAME OF STUDENTS

7 Shreya Shinde.
8 Aniket Boke.

UNDER THE GUIDANCE OF

MRS. Patil V.S.
 PUNE DISTRICT EDUCATION ASSOCIATION

THE INSTITUTE OF TECHNOLOGY, HADAPSAR, PUNE.

PART -A
Title of Microproject: Study credit card fraud as an identity threat

Details Of Activity Planned Planned Name of responsible

Save date Finish date Team member

1. We plan to form the group of 2 7/4/2022 8/4/2022 All project members

students
2. We can select the topic of micro 9/4/2022 11/04/2022 Aniket Boke.
project
3. We plan to study about 12/04/2022 15/04/2022 Aniket Boke.
programming with python
4. We plan to note the all important 16/04/2022 18/04/2022 Aniket Boke.
points of micro project

5. We plan to prepare a basic 19/04/2022 20/04/2022 Aniket Boke.

information of micro project
6. We plan to select the one line 21/04/2022 21/04/2022 Aniket Boke.
which is effective and meaning
full.
7. Make the report on micro project 22/04/2022 23/04//2022 Shreya Shinde.

8. Edit the report 24/04/2022 24/04/2022 Aniket Boke. &

Shreya Shinde.

*Aim of the Micro – Project

1) Study about decision making.

2) Collect relevant data from different sources.
3) Attempts alternative solution for micro project.
 PUNE DISTRICT EDUCATION ASSOCIATION

THE INSTITUTE OF TECHNOLOGY, HADAPSAR, PUNE.

INDEX
Sr. TOPIC NAMES
No.
1. Introduction

2. Reference

Roll No. Student Name Marks out of for Marks out of 4for Total out
performance in performance in
Of 10
group activity oral

7. Shreya Shinde
8. Aniket Boke

Introduction:

As more and more businesses are facing credit card fraud and identity theft, the popularity of “fraud
detection” is rising in Google Trends:
 PUNE DISTRICT EDUCATION ASSOCIATION

THE INSTITUTE OF TECHNOLOGY, HADAPSAR, PUNE.

Companies are looking for credit card fraud detection software that will help to eliminate this
problem or at least reduce the possible dangers. Before looking at the SPD Group credit card fraud
detection project, let’s answer the most common questions:

What is a Fraud Detection System?

It is a set of activities undertaken to prevent money or property from being obtained through
false pretenses.

What are Fraud Detection Predictive Models?

Models make predictions based on information about a transaction and some context (historical)
information. To make the model more robust, we used only the most important features which were
selected based on χ² (a chi-square is a test that measures how expectations compare to actual
observed data) and recursive feature elimination techniques. How to Detect Credit Card Fraud

Credit card fraud can happen to anyone, but it can also be resolved easily if you act fast. Here‘s how
to detect credit card fraud and protect your finances.
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How to Detect Credit Card Fraud

Credit card fraud can happen to anyone, but it can also be resolved easily if you act
fast. Here‘s how to detect credit card fraud and protect your finances.
 PUNE DISTRICT EDUCATION ASSOCIATION

THE INSTITUTE OF TECHNOLOGY, HADAPSAR, PUNE.

Nothing sends me into a panic quite like finding a charge on my credit card
statement that I know I didn’t put there.

When this happened to me, a tornado of thoughts immediately whipped up in my mind:

A $100 charge to Walmart in New Mexico? I live in Massachusetts! I’ve never even been to New
Mexico! I didn’t spend that money - how am I going to get this resolved? What if no one believes
me that I didn’t sneak across the country to buy $100 worth of stuff at a WalMart?
 PUNE DISTRICT EDUCATION ASSOCIATION

THE INSTITUTE OF TECHNOLOGY, HADAPSAR, PUNE.

I panicked. I wasn’t sure what to do. And I spent days wondering how on earth
this happened in the first place.

The situation felt strange, especially since this particular card got cut up into pieces years ago.

I don’t even use it, and there’s no way anyone else could use it either. How did they manage to go
on a quick shopping spree with my card thousands of miles away?

Not understanding exactly how is what stopped me from contacting my credit card company right
away. I was afraid I’d have to somehow prove that I was a victim (which is not the right way to
respond).

At first, I assumed the company would see me as guilty of trying to get out of a charge I didn’t want
to pay until I proved my innocence. I still don’t know what happened, but I finally contacted my
credit card company and tried to give them as much detail as possible - which basically amounted to,
“I have no idea how this happened!”

The credit card company responded and quickly resolved the issue. They
didn’t question me or require me to submit any kind of proofs. Submitting
a dispute with my credit card issuer, in this case, was enough to solve the
problem.
Even though it was an easy fix, it was undoubtedly scary at first. Thankfully, if this happens to
you, you can do something about it just like I did. Most credit card companies offer fraud
protection for cardholders.

But first, you need to know how to detect fraud when it happens so you aren’t held responsible for the
activity. Here’s what to look out for with your credit cards.
 PUNE DISTRICT EDUCATION ASSOCIATION

THE INSTITUTE OF TECHNOLOGY, HADAPSAR, PUNE.

What Counts as Credit Card Fraud?

Credit card fraud happens when someone uses your card information to make transactions
you didn’t authorize. It can also happen when someone steals your information or your card
itself.

This can include what happened in my situation, where somehow some other person not authorized
to use my card got my information and used it to make purchases. But that’s not the only activity
that counts as fraud.

It can also happen if someone steals your physical card and uses it. Or they could take the card or
information and try to get a cash advance (via convenience checks). People can even make fake
cards from your card information.

The end result could be transactions not authorized by you that appear on your statement. It could
also be new accounts that you didn’t open, or hard inquiries on your credit report that you didn’t
generate.

Credit card fraud is closely related to identity theft, too If someone obtains your personal information,
that’s classified as identity theft - and credit card numbers count as personal information. Thieves can
use this information to commit fraud or other crimes.
 PUNE DISTRICT EDUCATION ASSOCIATION

THE INSTITUTE OF TECHNOLOGY, HADAPSAR, PUNE.

How Credit Card Fraud Happens

So how does this stuff happen, anyway? Like I said, I spent days trying to puzzle out my case. The
card wasn’t stolen and I hadn’t used it in ages. What happened?

Other than what I already ruled out, plenty of options still existed. Someone could have skimmed the
card information when it was in use. (Skimmers are devices that read and store credit card information
when you swipe your card somewhere, like at a store or gas station pump.)

Or someone could have stolen my mail, which sometimes contains blank cash advance checks sent to
me by my card issuer.

Finally, someone could have stolen my data from an online site that wasn't secure.

My best guess is that a skimmer captured the card’s information at some point or someone stole
mail containing cash advance checks. But here’s a list of ways credit card fraud can happen:

 You lose your card and someone finds and uses it.
 Someone steals your card.
 Someone steals your information from a variety of sources: unsecured online
areas, your mail, your trash, or via a skimmer that reads and stores card data.
 Someone hacks servers or records storing your information.
 You give out your information to an unverified source (for example, if
someone calls claiming to be from a company or service you use and
requests your credit card information and you provide it to them).

While all this sounds scary (and is, especially if it’s happened to you), there is
some good news. If this does happen to you, it can be rectified if you act fast.
 PUNE DISTRICT EDUCATION ASSOCIATION

THE INSTITUTE OF TECHNOLOGY, HADAPSAR, PUNE.

What to Look for to Detect Fraudulent Activity on Your Card

Now that you know how credit card fraud can happen, let's talk about how you detect this type of
activity on your card.

Here’s where paying close attention to your personal finances as a whole

comes in very handy. Fraudulent activity leaves traces that you can find. You
just need to know where to look.
You can monitor your information monthly to make sure you take action if you become a victim of
credit card fraud. Start by reviewing your credit card statements each time you receive them. (You
could also sign up for a credit monitoring app to help.)

If your credit card statements arrive in the mail, this is a little easier. Simply open and review them as
you get them and make sure all the charges that appear came from you (or someone you authorized to
access and use your card).

If you opt into paperless billing, you need to make sure you review your statements online when
available.

Set up alerts on your phone or email so you get a notification when you can access your latest
statement. You can detect credit card fraud by identifying charges you didn’t make or authorize.

Another sign can come through the mail with your statements, and that’s bills
for products or services you didn’t buy.

You could even get a bill for a credit card statement on a card you didn’t open. If you see something
like this in your mailbox, don’t ignore it.

Getting calls from collections agencies claiming you owe money indicates credit card fraud.

If you don’t have debt and didn’t default on any balances, you shouldn’t get
these calls.

Monitoring your credit report can help you detect credit card fraud, too. You can get your credit
report for free every year at AnnualCreditReport.com.

Request a copy from each of the three credit reporting bureaus and review them carefully.

If you spot loans or lines of credit you didn't open, then that's something to dig deeper on.

Finally, look for mistakes and errors on your credit card statement and your credit reports - but also
check for inquiries that you didn’t generate or accounts that you didn’t open. These all suggest
fraudulent activity.
 PUNE DISTRICT EDUCATION ASSOCIATION

THE INSTITUTE OF TECHNOLOGY, HADAPSAR, PUNE.

What to Do If You Suspect Fraudulent Activity on Your Card

First, don’t panic. One of the biggest benefits of using credit cards is that they come with
protections for users.

Thankfully, your credit card is not directly tied to accounts where your cash lives. Someone can put a
fraudulent charge on the account, but they can’t directly access your cash via your credit card.

This is a good thing that protects you and your money. Credit card companies extend cardholder
protection to you and that includes not holding you liable for fraud.

But you need to act fast and report fraudulent charges immediately in order for your credit card
issuer to help you.

Your next step will depend on how you detected the fraud and what happened.

For example, if your personal information (like your social security number) was stolen and used to
open new accounts in your name, you need to call the Federal Trade Commission (1-877-438-4338).

But if you find mistakes on your credit report, then you should contact the credit bureau who
reported the wrong information. Here’s where you can go online to open a dispute with each
company:

 Equifax Online Dispute

 Experian Online Dispute
 TransUnion Online Dispute
 If you believe someone stole your mail and committed fraud with the information it
contained, you can report the issue to the US Postal Service. You can use their
online form here.

 If you find fraudulent charges on your credit card, reach out to your credit card companies.

 You can call your company’s customer service line or search for an online form to
report fraud.
If you believe someone stole your mail and committed fraud with the information it contained,
you can report the issue to the US Postal Service. You can use their online form here.

If you find fraudulent charges on your credit card, reach out to your credit card companies.

You can call your company’s customer service line or search for an online form to report
fraud.
 PUNE DISTRICT EDUCATION ASSOCIATION

THE INSTITUTE OF TECHNOLOGY, HADAPSAR, PUNE.

Stay Calm and Act Fast

Regardless of the circumstances or the channel you use to report credit card fraud, the key
to successfully resolving these issues is to act fast and follow up until you receive a
confirmation that the issue is settled.

Monitoring your information via credit card statements, credit reports, and what you
receive in your mail can help you respond quickly and reach a resolution as fast as possible.

Reference
https://www.mybanktracker.com/credit-cards/how-to/how-
to- detect-credit-card-fraud-262150

https://books.google.co.in/books?id=SEbCeN3-
kEC&printsec=frontcover&dq=study+credit+card+fraud+as+an+iden
tity+threat+identify&hl=en&sa=X&ved=2ahUKEwjgke2bke33AhXSU
W wGHYczCO0Q6AF6BAgDEAM#v=onepage&q&f=false