Next-Generation Anomaly Detection Framework Leveraging Artificial Intelligence for Proactive Credit Card Fraud Prevention and Risk Management
C. Manjula Devi, A Gobinath, S. Priya, M Adithiyaa, M Chandru, M Jothi · 2024
As digital payment methods continue to gain widespread adoption, the specter of credit card fraud looms large for both financial institutions and consumers. Addressing this escalating risk demands the deployment of sophisticated anomaly detection methods. This initiative is dedicated to crafting a resilient and effective framework for detecting credit card fraud, leveraging state-of-the-art anomaly detection algorithms and machine learning methodologies. The overarching goal is to conceive, engineer, and assess a robust anomaly detection system adept at pinpointing fraudulent credit card transactions with exceptional precision, all while curbing false positives to a minimum.