SYNERGIZING MACHINE LEARNING AND QUANTUM ANNEALING IN FRAUD PREVENTION SYSTEMS

With the increasing prevalence of online transactions, the risk of online fraud has become a major concern for individuals, businesses, and financial institutions. Traditional methods of fraud detection often fall short in addressing the dynamic and evolving nature of fraudulent activities. The escalating threat of online fraud necessitates innovative approaches to enhance the efficacy of fraud detection systems. Using a quantum machine learning (QML) strategy that incorporates Support Vector Machine (SVM) supplemented with quantum annealing solvers, this study has developed and implemented a detection framework. Our evaluation of its detection performance was based on a comparison of the QML application's performance with twelve different machine learning algorithms. This research investigates the fusion of classical machine learning algorithms with quantum annealing solvers as a novel strategy for fortifying online fraud detection. With traditional methods struggling to keep pace with the dynamic nature of fraudulent activities, this paper explores the potential synergy between machine learning and quantum computing to address the evolving challenges in online transactions. Our study aims to demonstrate the feasibility and effectiveness of integrating these technologies, leveraging quantum annealing to optimize the complex decision-making processes inherent in fraud detection. Through an in-depth analysis, we present findings on the performance, speed, and adaptability of the integrated model, showcasing its potential to revolutionize the landscape of online fraud detection and bolster cyber security measures.