PayGuard Plus: The Ultimate Payments Fraud Detection Application is a webapp designed by us, to give our audience a trusted detection of frauds on their payments. Here the user would enter some parameters as input and our machine learning model with a working accuracy of 99.98% will detect whether that payment can be fraud or not.
The goal of this project is to develop a robust machine learning model that can effectively detect fraudulent transactions in online payments. Fraud detection is crucial for ensuring the security of online financial transactions and protecting both businesses and users from potential losses.
Online payment systems face the constant challenge of identifying and preventing fraudulent activities. The project aims to build a predictive model that can analyze various parameters associated with a transaction to determine whether it is likely to be fraudulent.
The aim is to outline potential areas for future improvement, such as incorporating more advanced machine learning techniques, exploring additional features, or adapting to emerging fraud patterns, taking care of the ethical standards simultaneously.