Citation :

Ajay Benadict Antony Raju, 2024. "AI-Driven Fraud Detection in Investment and Retirement Accounts" ESP International Journal of Advancements in Computational Technology (ESP-IJACT)  Volume 2, Issue 1: 186-189.

Abstract :

The application of Artificial Intelligence (AI) has become significant over the years, and especially within the financial sector and more so within the fraud detection in the investment and pension accounts. Since fraud ultimately is a financial crime, traditional methods of detecting financial frauds are sometimes unable to cope up with emerging threats. Real-time fraud monitoring and analysis use artificial intelligence together with machine learning technique to analyze large data sets and detect and analyze patterns of fraudulent activities. Due to their ability to process large amounts of data, machine learning based AI systems can identify trends and patterns, which could be associated with fraudulent activities like, transactional fraud, identity frauds or take-over frauds. These systems are constantly-learning and hence less prone to generate false alarms about the newer threat types. Integration of artificial intelligence in fraud identifications of Investment and retirement accounts improves the security aspects of the consumers’ financial investments and called for maintaining the sanctity of the general financial ecosystem. The ongoing implementation of artificial intelligence into the processes of fraud identification can be described as the next step in protecting investment and retirement accounts from more advanced cyber threats.

References :

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Keywords :

Artificial Intelligence (AI), Fraud Detection, Investment Accounts, Retirement Accounts, Machine Learning, Anomalies.