Utilisation of Fraud Management System in Prevention of Financial Scam in the Banking Sector

In this research article, many different types of strong and sustainable viewpoints about fraud management systems will be highlighted appropriately, to make proper understandings. Moreover, it will be signified in this paper that, Fraud is characteristic of many approaches, it is an overall emphasis in the search for patterns for the detection of fraud. Data scientists, on the other hand, can prevent insurance fraud using algorithms to detect patterns and irregularities. In addition, Premium misallocation fraud, which is a mix-up of premiums, can entail fraud.