Money laundering and fraudulent transactions are two of the biggest risks to financial security. Conventional methods of fraud detection do not include real-time analysis and qualitative insights, so it is challenging for businesses and banks to act fast. This system efficiently detects fraudulent transactions with the help of machine learning algorithms that are trained on Money Laundering and PaySim (banking fraud) datasets.
How People Can Utilize It:
Financial Institutions & Banks: Identify suspicious transactions in real-time and cut down financial losses.
Admins & Investigators: Look into the flagged transactions and receive AI-driven insights regarding why a transaction is fraudulent or connected to money laundering.
Users (Customers): Check their transaction record and receive warnings for potential fraud on their account.