Legal Framework in Deep Diving into Financial Frauds via Ad Click, Credit Card Management and Document Dispensation in E-commerce Transactions

Abstract

The financial industry is at a critical juncture with unheard-of potential and threats as it charts its course into a digital future. The advent of machine learning (ML) and artificial intelligence (AI) represents a paradigm change, offering a potent toolkit to bolster defences against more elusive and pernicious financial scams. In order to understand the dynamics of these frauds, pinpoint the weaknesses that allow them to spread, and clarify the complex architecture of AI and ML solutions that are ready to thwart and destroy these evil practices, this research thus takes on a crucial role as an important endeavour. Each of these dimensions represents a unique facet of the digital financial ecosystem, each susceptible to its own set of exploits and manipulations. Secondly, the research endeavors to scrutinize the vulnerabilities inherent in these areas, shedding light on the intricacies of how fraudsters exploit the seams of the system. Thirdly, it critically evaluates the current state of AI and ML applications in the realm of fraud detection and prevention, seeking to understand the efficacy of existing models and their limitations. Finally, the study ambitiously proposes advanced AI and ML models tailored to address the unique challenges posed by each dimension of financial fraud, providing a roadmap for a fortified future.