—In today's digital financial landscape, the rise of
internet banking, electronic payment systems, blockchain, and
cryptocurrencies has created a significant challenge for financial
fraud. Due to their inability to identify complicated relations
between connected entities, conventional fraud detection
techniques, such rule-based and statistical models, are
inadequate for detecting more sophisticated fraud schemes.
Thanks to AI's use of cutting-edge machine learning (ML) and
deep learning (DL) technologies, fraud detection has never been
more effective. Graph Neural Networks (GNNs) are one
approach that has attracted a lot of attention; they employ GNNs
to examine the relationships between commodities, customers,
merchants, and devices, as well as between accounts and devices.
GNNs can identify hidden fraud trends, coordinated fraud rings,
money laundering, identity theft and cryptocurrency crimes
among other things, using relational and structural information.
This article covers all aspects related to AI fraud detection
solutions, ranging from simple statistical techniques to more
advanced methods like ML, DL, and graph-based solutions.
Furthermore, the paper explores the primary GNN
architectures, including Graph Attention Networks, Graph
Convolutional Networks, and Temporal Graph Neural
Networks, delving into their applications, advantages, and
disadvantages in financial fraud detection. The review finds that
the GNN-based methods demonstrated high detection accuracy,
good real-time surveillance ability, and could be applied to
develop scalable, interpretable and privacy-preserving financial
security frameworks.
Keywords : Financial Fraud Detection, Artificial Intelligence (AI), Graph Neural Networks (GNNs), Machine Learning, Deep Learning, Graph Convolutional Networks (GCNs), Graph Attention Networks (GATs).
Author : Dr. Prashant Kumar Srivastava
Title : AI-Driven Financial Fraud Detection: A Review of Graph Neural Network Approaches
Volume/Issue : 2026;03(06)
Page No : 24-34