As modern technology gets along with the ingenious inspirations of our tech brainiacs, the cases of security breaches & frauds keep arising with a more disastrous impact. As per Financial Trade Commission data, over 2.8 million individuals were the victims of financial fraud in preceding years, amounting to an estimated loss of $5.8 billion which is 70% higher than the previous year. This in fact has given rise to the need of machine learning in financial fraud detection.

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