Scientists from the Southern Ural State University (SUSU) have developed an artificial intelligence system that can detect suspicious banking transactions. Their algorithm based on gradient boosting achieved a high accuracy of 99.21%. It meets security standards in the banking industry for the first time. The algorithm can be used by bank security services to monitor cryptocurrency transactions.
Let’s take a closer look. The computer sees a bank transaction as a string of data that represents the movement of money. Some may arouse the suspicions of tax authorities and law enforcement. In this case, the algorithm developed by SUSU scientists can accurately detect such transactions.
This technology has wide practical applications and can be used in the daily work of banking security services, as well as in the control of cryptocurrency transactions. South Ural State University actively conducts innovative research in various fields of science and technology, and this achievement is part of its work. The University also plays an important role in regional projects for the development of science and technology.
Source: Ferra
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