V3I5P38

The use of AI fraud detection tools in online payment prevention in real world 

Girish Babu B^1*, Syeda karishma akhtar Hashmi² , Vijetha Nayana³, Dr. Kanchan G. Rajput⁴                                                                                                                

Abstract

The online payment fraud has gone up a lot because more people are using payment systems. This is a problem for banks and businesses everywhere in the world. The old ways of stopping fraud like using rules and checking things by hand are not very good at finding patterns of fraud. Artificial Intelligence is being used to make online payment systems safer and more reliable. This paper is going to show how Artificial Intelligence can be used in payments. It also talks about how Artificial Intelligence based fraud detection tools can stop payment fraud. Artificial Intelligence technologies, like machine learning and behavioral analytics help track transactions as they happen. They do this by looking at lots of data, such as what people have bought how they use their accounts and what device they use. These systems get better at finding activities over time. This means they can find activities more accurately and not bother people as much when it is a false alarm. Many companies have found that using Artificial Intelligence based fraud detection systems has reduced the amount of money they lose to fraud. They have also made it harder for people to launder money and have increased trust, with their customers in payment systems. The results show that using Artificial Intelligence to detect fraud not makes payments safer but also helps banks and businesses work better and make better decisions. As more people start using transactions it is very important to think about using Artificial Intelligence based fraud prevention tools. These tools can help reduce the risks of fraud and provide an online payment system for the online payment system. The online payment system will be safe when we use these tools to reduce the risks of fraud for the payment system.

Keywords:

Machine learning, Cybersecurity, Artificial Intelligence, Fraud detection, Online payments, Digital transactions