Financial Fraud Detection in Healthcare Using Machine Learning and Deep Learning Techniques

Abstract

Healthcare sector is one of the prominent sectors in which a lot of data can be collected not only in terms of health but also in terms of finances. Major frauds happen in the healthcare sector due to the utilization of credit cards as the continuous enhancement of electronic payments, and credit card fraud monitoring has been a challenge in terms of financial condition to the different service providers. Hence, continuous enhancement is necessary for the system for detecting frauds. Various fraud scenarios happen continuously, which has a massive impact on financial losses. Many technologies such as phishing or virus-like Trojans are mostly used to collect sensitive information about credit cards and their owner details. Therefore, efficient technology should be there for identifying the different types of fraudulent conduct in credit cards. In this paper, various machine learning and deep learning approaches are used for detecting frauds in credit cards and different algorithms such as Naive Bayes, Logistic Regression, K-Nearest Neighbor (KNN), Random Forest, and the Sequential Convolutional Neural Network are skewed for training the other standard and abnormal features of transactions for detecting the frauds in credit cards. For evaluating the accuracy of the model, publicly available data are used. The different algorithm results visualized the accuracy as 96.1%, 94.8%, 95.89%, 97.58%, and 92.3%, corresponding to various methodologies such as Naive Bayes, Logistic Regression, K-Nearest Neighbor (KNN), Random Forest, and the Sequential Convolutional Neural Network, respectively. The comparative analysis visualized that the KNN algorithm generates better results than other approaches.