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:

.

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.