Artificial Intelligence

Artificial intelligence to detect bank fraud

The NASDAQ exchange has started using it for fraud detection.

The important North American stock exchange has started to develop a tool with artificial intelligence that is based on deep learning technology; which is a subcategory of the well-known machine learning that focuses on the use of neural networks. The main idea of ​​detecting bank fraud and thus spreading the acquired knowledge to other affected companies.

The project started its operation a few weeks ago and its main objective is the movement of index shares, which are thousands of shares on the stock market over 24 hours, to search and detect the different patterns that characterize a fraud operation in the bag.

Detecting bank fraud is the main goal

The AI ​​team has already built their model by which they intend to examine extensive business data and with which they want to identify activities that may deviate from established trends in the normal market. Getting to detect a bank fraud; This activity will be subsequently analyzed by humans who will determine if the activity found can be harmful to the bag or not.

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The long-term goal of the exchange is that if the AI ​​procedure is successful it is that it can be assigned to a process known as 'learning transfer' and thus apply what has already been learned from AI to apply it in other types of markets where less information is available. The NASDAQ exchange plans to implement this technology in the software of other international operators.

The scams that threaten the stock market.

detect bank fraud
predisoft

One of the most elaborate and current scams out there is one known as 'spoofing'; This consists of when an investor carries out a huge number of orders to sell shares of a company and causes the value of these shares to fall and then cancel the orders and then decide to buy more shares of said company, which will have minimum prices due to its action.

El NASDAQ It is the second largest stock exchange with the highest capitalization in the United States and they had been operating in an automated way until recently.

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