The Evolutionary Arms Race - Safeguarding Financial Stability through Advanced Fraud Detection Techniques

In the wake of the exceptional surge in virtual transactions, the global economic sector faces an heightened danger of credit card fraud. This assessment paper examines the ancient evolution of fraud detection strategies, highlighting the constraints of traditional safety features. Drawing from great research, the have a look at emphasizes the importance of superior technologies like device learning, Block Chain, and large records analytics in strengthening economic protection. It additionally discusses the challenges and techniques worried in integrating these technologies into present structures. Thru rigorous checking out, the paper evaluates the effectiveness of these structures in figuring out and preventing various styles of fraud, emphasizing their critical function in building accept as true with and resilience in economic structures global. Moreover, by addressing modern-day challenges and emerging threats, the assessment contributes to efforts to decorate the integrity of financial transactions and set up an robust economic atmosphere for the society. Ultimately, it advocates for ongoing innovation in fraud detection strategies to hold and decorate the security of the global economic network.

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Publication Details

Published
2024-08-23
DOI
https://doi.org/10.1109/acet61898.2024.10730085
Citations
1
Primary Topic
Corruption and Economic Development
Type
article
Field-Weighted Citation Impact
1.13
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article

The Evolutionary Arms Race - Safeguarding Financial Stability through Advanced Fraud Detection Techniques

Punit Soni, Himanshu Gupta, Rajender Kumar
1 citations
Corruption and Economic Development
1.13
article

The Evolutionary Arms Race - Safeguarding Financial Stability through Advanced Fraud Detection Techniques

Punit Soni, Himanshu Gupta, Rajender Kumar
article en
1 citations

Abstract

In the wake of the exceptional surge in virtual transactions, the global economic sector faces an heightened danger of credit card fraud. This assessment paper examines the ancient evolution of fraud detection strategies, highlighting the constraints of traditional safety features. Drawing from great research, the have a look at emphasizes the importance of superior technologies like device learning, Block Chain, and large records analytics in strengthening economic protection. It additionally discusses the challenges and techniques worried in integrating these technologies into present structures. Thru rigorous checking out, the paper evaluates the effectiveness of these structures in figuring out and preventing various styles of fraud, emphasizing their critical function in building accept as true with and resilience in economic structures global. Moreover, by addressing modern-day challenges and emerging threats, the assessment contributes to efforts to decorate the integrity of financial transactions and set up an robust economic atmosphere for the society. Ultimately, it advocates for ongoing innovation in fraud detection strategies to hold and decorate the security of the global economic network.

Chitkara University (IN)
Peace, Justice and strong institutions
Openalex Percentile: Top 16%
Corruption and Economic Development
1.13
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