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Credit Card Fraud Detection Using Generative AI

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The Company 

A leading financial institution focused on securing transactions and reducing fraudulent activities across its credit card network. With increasing sophistication in cyber fraud, the company aimed to adopt advanced AI-driven solutions to enhance fraud detection accuracy and minimize financial losses. 

Problem Statement 

Credit card fraud remains a persistent challenge for financial institutions, causing billions in annual losses. Traditional fraud detection methods face limitations such as: 

  • High false-positive rates, leading to unnecessary transaction declines and poor user experience. 
  • Inability to detect novel fraud patterns and emerging tactics. 
  • Slow adaptation to evolving fraud techniques. 

The company needed a more robust solution that could proactively detect fraudulent activities, reduce false positives, and enhance overall transaction security. 

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