Artificial Intelligence in Financial Fraud Detection: A Case Study of Indian Banking Sector
DOI:
https://doi.org/10.36676/irt.v8.i4.1503Keywords:
Artificial Intelligence, Financial Fraud, Indian Banking SectorAbstract
This paper presents the role of Artificial Intelligence (AI) in detecting financial fraud in the Indian banking sector. As financial fraud becomes more sophisticated, AI-based techniques such as anomaly detection, neural networks, and predictive analytics are emerging as powerful tools for identifying suspicious activities. The research focuses on AI-driven fraud detection models used by Indian banks and analyzes how machine learning algorithms are applied to detect money laundering, phishing, and unauthorized transactions. The study also explores the regulatory implications, data privacy issues, and AI's impact on enhancing financial security in India. The results indicate that AI-driven systems have significantly reduced fraud incidents and improved compliance with Reserve Bank of India (RBI) guidelines.
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