Integrated SVM-FFNN for Fraud Detection in Banking Financial Transactions

Detecting fraud in financial transactions is crucial for guaranteeing the integrity and security of financial systems. This paper presents an integrated approach for detecting fraudulent activities that incorporates Support Vector Machines (SVM) and Feedforward Neural Networks (FFNN). The proposed methodology utilizes the strengths of SVM and FFNN to distinguish between classes and capture complex patterns and relationships, respectively. The SVM model functions as a feature extractor, supplying the FFNN with high-level representations as inputs. Through an exhaustive evaluation utilizing labeled financial transaction data, the integrated SVM-FFNN model shows promise in detecting fraud with increased accuracy and precision. This research contributes to the development of innovative techniques for enhancing financial fraud detection systems.