Fraud Detection Techniques

Fraud detection techniques are methods used to identify and prevent dishonest activities, such as theft or scams. Common techniques include data analysis, where patterns are examined to spot unusual transactions, and machine learning, which uses algorithms to learn from past fraud cases and predict future occurrences. Other methods involve rule-based systems that flag suspicious behavior based on predefined criteria. Additionally, expert reviews involve human analysts who investigate flagged cases. Ultimately, these techniques aim to protect individuals and organizations by ensuring transactions are legitimate and minimizing financial losses.