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Transparency and Privacy: The Role of Explainable AI and Federated Learning in Financial Fraud Detection. (arXiv:2312.13334v1 [cs.LG])
cs.CR updates on arXiv.org arxiv.org
Fraudulent transactions and how to detect them remain a significant problem
for financial institutions around the world. The need for advanced fraud
detection systems to safeguard assets and maintain customer trust is paramount
for financial institutions, but some factors make the development of effective
and efficient fraud detection systems a challenge. One of such factors is the
fact that fraudulent transactions are rare and that many transaction datasets
are imbalanced; that is, there are fewer significant samples of fraudulent
transactions …
advanced assets customer customer trust detect detection development explainable ai federated federated learning financial financial fraud financial institutions fraud fraud detection fraudulent institutions paramount privacy problem role safeguard systems transactions transparency trust world