Ml-Driven Fraud Detection System to Classify Transactions as Fraudulent or Legitimate in Real-Time
Authors:
Chilakalapudi Lakshmi Priya, Upputhala Uday Sai, Buddha Tanusri, Mr.P.Mahesh
Page No: 1063-1071
Abstract:
The detection of suspicious financial transactions has been a critical focus in the financial industry for decades. Traditionally, financial institutions employed rule-based systems for identifying potentially fraudulent activities. These systems rely on predefined thresholds and patterns, such as large transactions or frequent deposits, to flag suspicious activities. While effective to some extent, traditional systems face significant limitations
Description:
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Volume & Issue
Volume-14,Issue-4
Keywords
Suspicious financial transactions, Fraud Detection, Manual intervention, Evolving Fraud patterns, Dynamic fraud detection, High-risk transactions, Financial fraud prevention.