Download Project Document/Synopsis
Online auction however is a different business model where the items are sold through price bidding. Usually bidding have start price and ending time. Potential buyers in auction and the winner is the one who bids the item for highest price. We treat the fraud detection with a binary classification. For buying product online user have to provide his personal details like email address, license number, PAN number etc. Only the valid user will have authority to bid. This prevents various frauds according in online shopping.
Advantages
- Only authorized and verified customer can participate in auction.
- Fraud customer or seller gets detect in early stages and measure to prevent it.
- Authenticate legitimate users can buy the product online very efficiently and securely with the help of this system
- The products for auction does not need any physical location
- The bidder can participate in auction from anywhere at anytime through online auction.
Disadvantages
- Customer can view only the product picture and some details on the auction website, which may lead to lack of product genuineness.