| Fraud detection is the systematic process of identifying suspicious activities, unusual patterns, or deceptive behaviors that may indicate financial or operational misconduct. It involves analyzing transactions, customer behavior, digital footprints, and historical data using rule-based systems, analytics, and advanced technologies to spot potential fraud attempts in real time or during post-transaction reviews. Effective fraud detection helps organizations prevent financial losses, protect sensitive information, ensure regulatory compliance, and maintain trust with customers and stakeholders. |
