Generative Artificial Intelligence in Finance

6Deep Diving into Financial Frauds via Ad Click, Credit Card Management and Document Dispensation in E-Commerce Transactions

Bhupinder Singh^1*, Pushan Kumar Dutta² and Christian Kaunert³

¹Sharda University, Greater Noida, India

²Electronics and Communication Engineering Department at ASETK, Amity University Kolkata, West Bengal, Kolkata, India

³Dublin City University, Dublin, Ireland

Abstract

Financial fraud presents a significant peril to the banking and financial sector, adversely impacting individuals, businesses, and entire economies. In recent years, the integration of artificial intelligence (AI) and machine learning (ML) techniques has emerged as a potent weapon against diverse forms of financial fraud. The banking and financial sector as a cornerstone of modern economies is undergoing a profound transformation due to the ascendancy of digital transactions. This shift has led to a surge in financial frauds, compelling a paradigm shift in security protocols. The integration of advanced analytics, including anomaly detection and pattern recognition, is scrutinized to unveil a robust defense mechanism against the ever-evolving tactics employed by fraudulent actors in the ad-click domain. Credit card management, being a perennial target for malicious activities, demands a sophisticated approach to fraud detection. This chapter explores the AI-based document verification systems which emphasize their pivotal role in securing transactions that hinge on authenticating documents ...