Problem Statement
With the rapid increase of online applications in industries such as finance, e-commerce, and social media, the frequency and sophistication of fraud attempts have surged. E-commerce apps face challenges like unauthorized transactions, fake bank account creation, and bot-driven attacks, leading to financial losses, reputational harm, and decreased user trust.
Current fraud detection methods often rely on post-event analysis, failing to address the need for real-time mitigation. The critical problem is to develop a system capable of detecting and preventing fraud as it occurs while balancing performance, user experience, and data privacy.
This article has been indexed from DZone Security Zone