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Directly Relevant to Finance and E-Commerce for Fraud Detection, Credit Scoring, and Transaction Analysis
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Author(s): Subramanyam Boyapati (American Express, USA), Rajani Priya Nippatla (Kellton Technologies Inc., USA), Bhavya Kadiyala (Parkland Health, USA), Sunil Kumar Alavilli (Sephora, USA), Chaitanya Vasamsetty (Elevance Health, USA)and M. Thanjaivadivel (Nandha Engineering College, Erode, India)
Copyright: 2027
Pages: 42
Source title:
Generative AI for Cyber Risk Management
Source Author(s)/Editor(s): Yassine Maleh (Sultan Moulay Slimane University, Morocco), Lahby Mohamed (Hassan II University, Casablanca, Morocco)and Ahmed A. Abd El-Latif (Prince Sultan University, Saudi Arabia)
DOI: 10.4018/979-8-3693-8397-1.ch009
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Abstract
This paper presents a novel DL design for online shopping and financial fraud detection highlighting meticulous transaction analysis and risk assessment. The approach applies a comprehensive preprocessing pipeline consisting of min-max normalization, correlation-based filter and median imputation to obtain high quality data. Latent behavioural features are derived by an autoencoder, and anomaly sensitivity is enhanced by the Local Outlier Factor (LOF). For classification, a Bi LSTM and Transformer network hybrid model learns the sequential and global interdependence among transactions. This hybrid model is beneficial in identifying sophisticated schemes of fraud and assists in intelligent credit scoring. The final classification step correctly distinguishes legitimate and fraudulent transactions. Designed to be adaptive to new patterns of fraud the classical can be directly functional to real-world financial systems, internet shopping systems and internet payment gateways. Experimental results outperform traditional fraud detection techniques.
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