SIMULATION OF FRAUDULENT ATM TRANSACTION DETECTION (CASE STUDY OF FIRST BANK)
Abstract
This project gives the model of simulated ATM transaction fraud. QR-based improvement on the Automated Teller Machine (ATM) environmentreauthentication. The paper discusses the increasing issue of inappropriate access and introduced an ATM transaction behavior aware verification model that is used to prevent fraudulent ATM transactionsobserves transaction frequency, time and amount. When irregular activities are spotted, a system automatically creates a session-bound QR code. that should be scanned by the registered mobile device of the user to be sure of identity beforeproceeding. PHP was used as the backend processor in the development of the prototype.
Data storage is MySQL, the interface is handled by HTML, CSS and JavaScriptsimulation. The QR verification is a successful strategy to eliminate risks related tocloning of card, stealing PIN and unauthorized withdrawals. Testing demonstrated theefficiency of the system to identify anomaly and fraudulent transactions inreal time. This solution is cost-efficient, easy to use, and expandableto improve the security of ATM and may be generalized to larger financial usesas on-line and mobile banking.
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