MUMBAI, India, May 1 -- Intellectual Property India has published a patent application (202641051055 A) filed by Cvr College Of Engineering, Hyderabad, Telangana, on April 22, for 'an automated real-time fraud detection system for use with electronic transactions.'
Inventor(s) include Gundeti Srinivas; and B. Kiran Kumar.
The application for the patent was published on May 1, under issue no. 18/2026.
According to the abstract released by the Intellectual Property India: "The current invention discloses a real-time automated fraud prevention system for digital transactions based on adaptive machine-learning techniques that will receive and process transaction information in real-time. This will involve the utilization of advanced preprocessing techniques to clean transaction data as it streams in and then performing feature extraction/feature engineering and classifying the transaction to determine whether it is fraudulent or not in real-time. The adaptive learning processes will allow the model to continue adapting with any new types of fraud that emerge. The explainable AI techniques will help provide transparency into how fraud decisions were made. Overall, this framework will reduce the number of false positives associated with detecting fraud, improve reliability for the detection of fraud, and allow for easier use of this solution across all areas of the banking ecosystem including payment gateways as well as e-commerce."
Disclaimer: Curated by HT Syndication.
