APPLICATION OF DEEP LEARNING FOR FRAUD DETECTION IN E-PAYMENT SYSTEM
Abstract
ABSTRACT This study explores the application of deep learning for fraud detection in e-payment systems. The objectives include assessing the level of fraud in e-payment systems and examining the effect of deep learning on fraud detection. A survey research approach was adopted, and a structured questionnaire was administered to e-payment experts in Bauchi, Bauchi state, resulting in a sample size of 100 participants. Descriptive statistics and the non-parametric chi-square test were utilized to analyze the data and test the study hypotheses. The findings indicate a high level of fraud in e-payment systems and a positive effect of deep learning on fraud detection. The study revealed that that the level of fraud in the e-payment system is high; also, that the effect of the application of deep learning on fraud detection in e-payment system is positive. Against these background therefore, the researcher concluded and recommended that (1) Efforts should be made to enlighten the masses on the processes and working of deep learning (2) There should be proper orientation of the stakeholders on the need to apply deep learning for fraud detection in e-payment system.
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