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Research Paper | Computer Science & Engineering | India | Volume 12 Issue 4, April 2023

Financial Fraud Detection of Digital Transaction Using Artificial Intelligence & Machine Learning

Shivam Sundaram | Nanhay Singh

Abstract: The rapid increase in the field of digitalization in the global platform, we Homo sapiens have been highly dependent and rely on such platforms to get our job done in day today work style. With that set we can?t also deny the fact some loop holes are also there which can cause a blunder in the ecosystem of financial platform. Yes your guess is right we are talking about the fraud which occurs with the great gift of ease in work through digitalization. Frauds are volatile and dynamic in nature as well as they depicts no sign of pattern therefore it?s very difficult to identify. Counterfeiters uses the recent modern tools and advance technology to their advantage. They somehow finds the gaps and succeed in breaching the security checkpoints causing loss of millions of dollars. The major concern is that financial frauds are not limited to cards, Unified Payments Interface and other transactions it deep down goes to websites phishing and many more. Analysis and detection of such anomalies using advance techniques of machine learning and artificial intelligence is possible. In order to avoid such occurrences of anomalies or frauds, this research intends to benchmark several artificial intelligence, deep learning, and machine learning algorithm concepts. The dataset used would be primary, secondary and mostly random datasets available across the various sources encountered during period of research.

Keywords: RFbFFD (Random Forest based Financial Fraud Detection), Cards, frauds, Digitalization

Edition: Volume 12 Issue 4, April 2023,

Pages: 125 - 129