Fraud Risk Management System

Abstract

The number of UPI fraud transaction cases is increasing in the modern era of the digital payment system. Since a few years ago, the number of fraud cases has almost doubled[1]. A real-time fraud management system that can identify and prevent fraudulent UPI transactions is the focus of my project, Fraud Risk Management System. It utilizes API calls to operate instantly. The MYSQL server houses the customer's transactional information. The algorithms retrieve transaction information from the MySQL server, analyze the customer's prior transaction patterns, and save the required information in the pickle library, a Python library. Real-time transaction information is compared to historical data, and a fraud score is generated based on a number of factors. The bank server checks this score, and if it exceeds a predetermined threshold, the specific UPI transaction is immediately blocked.