Fraudulent transaction detection on online platforms

The last decade exhibited a steady increase in digitalization in a number of aspects of our life, for daily activities such as shopping and leisure activities as well as for work such as documentation, tax reporting or the ERP system. This transition from manual paperwork and physical activities to online platforms and tools was then accelerated since the onset of the pandemic. As stated by Kosse and Szemere (2021), the volume of online transactions daily increased at an unprecedented rate both in advanced economies (AEs), as well as emerging market and developing economies (EMDEs).