International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

Call for Paper Volume 8, Issue 4 (July-August 2026) Submit your research before last 3 days of August to publish your research paper in the issue of July-August.
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Volume 8 Issue 4
July-August 2026

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Artificial Intelligence in Financial Fraud Prevention: Enhancing Security in the Indian Banking Sector

Author(s) Dr. Babita Singh, Mr. Rakesh Kumar Singh
Country India
Abstract Abstract
The swift growth of digital banking together with financial services in India leads to better service accessibility while increasing operational efficiency. The growing digital banking sector together with financial services has sparked a soaring number of fraudulent practices which surpasses the capabilities of traditional fraud detection systems. This research examines how Artificial Intelligence (AI) detects financial fraud in Indian banks versus traditional rule-based fraud systems for protection in that sector. Financial fraud data obtained from the Reserve Bank of India (RBI) serves as the basis for this study which implements machine learning and deep learning models comprising Logistic Regression and Random Forest and XGBoost along with Long Short-Term Memory (LSTM) Networks and Convolutional Neural Networks (CNN). The research based its findings on first-hand data obtained from banking customers alongside staff members from different Indian financial institutions who totaled 200 participants. The research shows AI approaches deliver superior fraud detection results that cause fewer incorrect alarm alerts to financial institutions. The research indicates that AI-based fraud detection algorithms offer strong opportunities to enhance financial safety throughout India’s banking sector.
Keywords Keywords: Artificial Intelligence, Banking Fraud, Machine Learning, Anomaly Detection, Financial Security, India
Field Computer Applications
Published In Volume 8, Issue 4, July-August 2026
Published On 2026-07-27
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E-ISSN 2582-2160
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CrossRef DOI prefix of IJFMR is 10.36948/ijfmr

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