Automated Secure Computing for Next-Generation Systems

9Automated Secure Computing for Fraud Detection in Financial Transactions

Kuldeep Singh¹*, Prasanna Kolar², Rebecca Abraham³, Vedantam Seetharam¹, Sireesha Nanduri¹ and Divyesh Kumar¹

¹Faculty of Management Studies, CMS Business School JAIN (Deemed to be) University, Bangalore, India

²Department of Agriculture Koneru Lakshmaiah Educational Foundation,Vijaywada, India

³Finance and Economics, Nova South-eastern University, Florida, United States

Abstract

In today’s society, financial fraud is a severe and ongoing issue. Automatic fraud detection devices have been developed to assist in addressing this problem; but, in order to secure against cyber attacks by malicious players, these systems must be designed with security in mind. An automated secure computing system for fraud detection in financial transactions is suggested in this research. The technology is intended to process and analyze transaction data securely, find abnormalities, and send out notifications for possibly fraudulent activities. In order to safeguard against cyber attacks, the study suggests that the system should include a number of security mechanisms, such as encryption, data obfuscation, and access limits. The suggested approach is based on prior observations in research studies related to fraudulent transactions while maintaining a high standard of security. This study illustrates the viability and efficiency of automated secure computing for financial transaction fraud detection.

Keywords: Automated ...