Efficient Bank Fraud Detection with Machine Learning
Rong Zhang,
Yu Cheng,
Liyang Wang
et al.
Abstract:The rapid expansion of IT technology has led to a significant increase in financial transactions, accompanied by a corresponding rise in fraudulent activities. This paper tackles the challenge of detecting fraud in various forms, such as credit card fraud, banker cheque fraud, and online funds transfer fraud, which have become increasingly sophisticated. Traditional methods struggle to keep pace with these evolving fraud techniques, necessitating advanced approaches. We propose the use of machine learning algo… Show more
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