Related papers: Fraud Detection System for Banking Transactions

While E-commerce has been growing explosively and online shopping has become popular and even dominant in the present era, online transaction fraud control has drawn considerable attention in business practice and academic research.…

The use of credit cards has become quite common these days as digital banking has become the norm. With this increase, fraud in credit cards also has a huge problem and loss to the banks and customers alike. Normal fraud detection systems,…

Addressing class imbalance is a central challenge in credit card fraud detection, as it directly impacts predictive reliability in real-world financial systems. To overcome this, the study proposes an enhanced workflow based on the…

This study investigates rare event detection on tabular data within binary classification. Standard techniques to handle class imbalance include SMOTE, which generates synthetic samples from the minority class. However, SMOTE is…

Machine learning and data mining techniques have been used extensively in order to detect credit card frauds. However purchase behaviour and fraudster strategies may change over time. This phenomenon is named dataset shift or concept drift…

E-commerce platforms and payment solution providers face increasingly sophisticated fraud schemes, ranging from identity theft and account takeovers to complex money laundering operations that exploit the speed and anonymity of digital…

The large variety of digital payment choices available to consumers today has been a key driver of e-commerce transactions in the past decade. Unfortunately, this has also given rise to cybercriminals and fraudsters who are constantly…

As more and more attacks have been detected on Ethereum smart contracts, it has seriously affected finance and credibility. Current anti-fraud detection techniques, including code parsing or manual feature extraction, still have some…

This paper presents a novel approach to e-commerce payment fraud detection by integrating reinforcement learning (RL) with Large Language Models (LLMs). By framing transaction risk as a multi-step Markov Decision Process (MDP), RL optimizes…

Phishing detection on Ethereum has increasingly leveraged advanced machine learning techniques to identify fraudulent transactions. However, limited attention has been given to understanding the effectiveness of feature selection strategies…

Financial fraud cases are on the rise even with the current technological advancements. Due to the lack of inter-organization synergy and because of privacy concerns, authentic financial transaction data is rarely available. On the other…

Financial fraud detection poses a typical challenge characterized by class imbalance, where instances of fraud are extremely rare but can lead to unpredictable economic losses if misidentified. Precisely classifying these critical minority…

The extensive use of the internet is continuously drifting businesses to incorporate their services in the online environment. One of the first spectrums to embrace this evolution was the banking sector. In fact, the first known online…

As machine learning is increasingly applied in an online fashion to deal with evolving data streams, the fairness of these algorithms is a matter of growing ethical and legal concern. In many use cases, class imbalance in the data also…

Fraud detection systems (FDS) mainly perform two tasks: (i) real-time detection while the payment is being processed and (ii) posterior detection to block the card retrospectively and avoid further frauds. Since human verification is often…

Since the inception of permissionless blockchains with Bitcoin in 2008, it became apparent that their most well-suited use case is related to making the financial system and its advantages available to everyone seamlessly without depending…

Ensuring reliable ATM services is essential for modern banking, directly impacting customer satisfaction and the operational efficiency of financial institutions. This study introduces a data fusion approach that utilizes multi-classifier…

Applications of blockchain technologies got a lot of attention in recent years. They exceed beyond exchanging value and being a substitute for fiat money and traditional banking system. Nevertheless, being able to exchange value on a…

Using machine learning models to generate synthetic data has become common in many fields. Technology to generate synthetic transactions that can be used to detect fraud is also growing fast. Generally, this synthetic data contains only…

As online fraudsters invest more resources, including purchasing large pools of fake user accounts and dedicated IPs, fraudulent attacks become less obvious and their detection becomes increasingly challenging. Existing approaches such as…