Advancing financial fraud detection: Self-attention generative adversarial networks for precise and effective identification

The burgeoning prominence of electronic payment methods has significantly intensified the importance of financial fraud detection, especially concerning credit card fraud. The challenges encompass data imbalance, overfitting, and a limited capacity to realistically emulate the complexity and dynamics of fraudulent activities. This paper introduces self-attention generative adversarial networks (SAGANs) for the detection of credit card fraud. Leveraging self-attention mechanisms, SAGANs can distinguish salient features and patterns within extensive transaction datasets, thereby fostering a more profound understanding and refined identification of credit card fraud. By incorporating generative adversarial networks (GANs), our model is capable of generating data that mirrors actual fraudulent behavior, which consequently enhances and optimizes fraud detection algorithms. Empirical findings from numerous credit card transaction datasets underscore the considerable superiority of our approach in terms of accuracy and recall. Our proposed SAGANs more competently emulate the complexity and diversity inherent in fraudulent behavior, thereby augmenting both the precision and efficacy of fraud detection.