Fortifying Digital Payments: Responding to UPI Frauds by Leveraging AI and Blockchain Technology

Fortifying Digital Payments: Responding to UPI Frauds by Leveraging AI and Blockchain Technology
Author(s):
Srikrish Santhosh, Tanisha Parvatikar
Keywords:
Anomaly Detection, Blockchain Smart Contracts, Digital payments, Machine learning.
Abstract
This report focuses on India's broad digital payment market and illustrates a sharp rise in digital payment's fraud, as shown through a case study. The paper suggests using machine learning and blockchain smart contracts for anomaly detection as cutting-edge security techniques to counteract emerging risks. While blockchain smart contracts offer a decentralized and unchangeable base, anomaly detection examines user behavior to strengthen the digital payment system. In addition to addressing existing gaps in security, these suggested laws also support a dialogue that places a premium on accessibility and trust, establishing the framework for India's safe and ongoing use of electronic payment systems.
Article Details
Unique Paper ID: 162200 Publication Volume & Issue: Volume 10, Issue 8 Page(s): 282 - 286
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