USING ANOMALY DETECTION TO DETECT FRAUDULENT TRANSACTION IN ELECTRONIC BANKING

SUMMARY

This project work presents the design of an anomaly detection system for detecting fraudulent transactions in electronic banking. Spyder and python were used for the creation of the database design. This design shows the benefits of the proposed system using anomaly detection to detect the behavioral and transaction patterns for detecting anomalies in the database system. The merits include reduction of unauthorized access in the database, recognition of user transaction and behavioral patterns, reduction of fraudulent transactions in the database, and creation of new transaction patterns for authorized users. The designed system can also be updated if the need arises.