Enhancing Fraud Detection in Financial Transactions through Advanced AI Algorithms

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This article explores AI algorithms improving fraud detection accuracy in financial transactions, highlighting implications for security.

Fraud detection accuracy improves with advanced AI algorithms, enhancing financial transaction security.
AI techniques, such as deep learning, can significantly elevate detection rates, addressing limitations of traditional methods.
Analysis of existing fraud detection methods demonstrates their challenges and the need for innovative solutions like AI applications across various institutions. Supports ethical considerations around AI use, focusing on privacy and regulatory challenges.

S. Thakkar (2024) studied this question.

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