FINTECH SHIELD: Detecting anomalies in financial transactions

FINTECH SHIELD: Detecting anomalies in financial transactions
Author(s):
O.Durga Bhavani, M.Hemanjali, K.Bhaskar Sai, K.Santosh, J.Abhinay
Keywords:

Abstract
The fintech shield project leverages python libraries such as pandas, plotly express, and machine learning algorithms like random forest and isolation forest to detect irregularities in financial transactions. By employing classification metrics and statistical models, including correlation matrix analysis, the system can effectively classify transactions as either regular or irregular based on input data, offering a robust solution for fraud detection in financial transactions. One of the primary purposes is to identify fraudulent activities such as unauthorized transactions, identity theft, or money laundering. By analyzing patterns and anomalies in transaction data, python scripts can flag potentially fraudulent activities for further investigation. The purpose of detecting irregularities in financial transactions with python is to enhance security, mitigate risks, ensure compliance, and improve operational efficiency within financial systems.
Article Details
Unique Paper ID: 164276 Publication Volume & Issue: Volume 10, Issue 12 Page(s): 498 - 501
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NCSEM 2024

National Conference on Sustainable Engineering and Management - 2024

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