Prabhs Uyyala

Anti fraud for Cheques and use of AI (eBook, ePUB)

Next gen realtime anti fraud 4 cheque processing

• Format: ePub

Produktbeschreibung

This book brings A Comprehensive Analysis of Fraud Prevention in the Modern Landscape Introduction: Check Payments are an essential part of society and the global economy, but they are also vulnerable to fraud. Financial institutions and payment processors must provide secure and reliable payment options to customers, but this can be challenging as new payment methods and technologies are introduced and criminals find new ways to commit fraud. One solution to reduce risk and prevent financial losses is the use of technology, such as image analysis and pattern recognition, to improve the security of vulnerable payment methods such as checks. Chapter 1: The Challenge of Check Fraud Check fraud is a significant problem, with losses estimated at $1.3 billion in the 2018 ABA Deposit Account Fraud Survey. Check fraud can occur through forgery, counterfeiting, alterations, kiting, and embezzlement, and new innovations in payment methods and technologies can lead to new methods of fraud. Despite efforts by banks to prevent check fraud, it remains a challenge. Chapter 2: Addressing the Endless Cycle of Payment Fraud Although the problem of payment fraud may seem like an endless cycle, it can be effectively addressed by analyzing past breaches, implementing comprehensive fraud control measures, and using current AI/ML technology to defend against fraud. One example of such technology is a check recognition system that uses image analysis and pattern recognition to provide protection for the vulnerable payment method of checks using trained AI models. By taking these steps, payment system participants can significantly reduce their risk of financial losses up to 99%. Chapter 3: The Changing Landscape of Payments The payments industry is undergoing change due to the decline in check usage, the growth of ACH and card, online, and mobile payments. Despite these changes, checks remain a widely used and important payment method, and organizations may find it challenging to switch from established and perceived secure payment methods. Consumers and businesses continue to use checks for a significant portion of their payments. Chapter 4: Next-gen real-time Cheque fraud detection using GAN AI/ML model. Newly patented and trained model using the GAN AI model to detect cheque fraud/counterfeit at the point of cheque accepted by financial institutions in real-time saves multi-millions and wins customer satisfaction at a higher level.

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Produktdetails

• Verlag: Lulu.com
• Erscheinungstermin: 29. Mai 2023
• Englisch
• ISBN-13: 9781312806924
• Artikelnr.: 68404502

Autorenporträt

With the global rise of digital financial transactions and the exponential growth of e-commerc, we have witnessed the emergence of unpredictable and sophisticated financial crimes that pose significant challenges. Regrettably, only a handful of anti-fraud applications, commonly known as "fraud defense applications," have risen to the occasion to combat these crimes in the vast realm of the digital world. The lack of attention from companies worldwide to address this critical issue has resulted in a profound dearth of standardized knowledge and preparation for individuals venturing into the realm of identifying cybercrime in the real world. Until now, this conspicuous absence of practical guidance and resources offering valuable insights and effective strategies to navigate this constantly evolving field has left many to rely on experiential learning and a continuous process of trial and error to cultivate their expertise. Hence, the urgency for a comprehensive training manual that covers the foundational knowledge across various sectors of this emerging anti-fraud industry has become indisputable. My professional journey began in 2002 when I completed my master's degree in computer applications, and ever since, I have been deeply immersed in the realms of machine learning, artificial intelligence, and analytics as I sought to add value to businesses and tackle real-world challenges within the financial industry. This profound passion for these subjects is something I share with my brother Sridhar U and his family, my loving wife Jyothi U, my devoted daughters Sahithi U and Kyathi U, and my friends Keshav Kallur, Aijaz M, Kevin David, John Norman, and Pavan K. Their unwavering curiosity and support have been instrumental throughout this process, as they have expressed their desire to contribute through reviewing the content or inundating me with thought-provoking questions. I am also eternally grateful for the constant and immeasurable support from my parents, Mr. Janardhan U and Lingamma U, who have been my pillars of strength. Our collective love for data, analysis, new way of thinking, and the pressing need for effective anti-fraud measures have propelled us towards recognizing the inherent value that lies within these domains. By harnessing the power of the new AI/ML tools and techniques meticulously detailed in this book, we can navigate through the murky waters of uncertainty and discover a sense of certainty. Data science empowers us to uncover the