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Informative Article | Science and Technology | India | Volume 9 Issue 1, January 2020 | Popularity: 4.8 / 10

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Leveraging Machine Learning for Payment Fraud Detection

Naga Lalitha Sree Thatavarthi

Abstract: The fight against fraud has become more intense in the fast-paced digital age when every click and transaction leave a digital trace. In comparison to pre-pandemic levels, digital fraud attempts have increased 80% globally in 2022, according to a recent analysis from TransUnion. This emphasises how urgently sophisticated solutions are needed. Businesses are able to anticipate and stop fraudulent acts before they occur by utilising machine learning. This contributes to building a robust defence against the growing danger of digital deceit. This study explores the challenging field of fraud detection and shows how machine learning can be a ray of hope.

Keywords: Mobile Payment Fraud, Machine Learning, Fraud Detection

Edition: Volume 9 Issue 1, January 2020

Pages: 1939 - 1941

DOI: https://www.doi.org/10.21275/SR24615131232

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