Fraud detection refers to the process of identifying and preventing fraudulent activities, such as financial scams or identity theft. It involves analyzing data and patterns to spot unusual behavior that may indicate deceit. Organizations often use technology, such as machine learning algorithms, to enhance their detection capabilities. Effective fraud detection systems can help protect consumers and businesses from significant financial losses. These systems monitor transactions in real-time, flagging suspicious activities for further investigation. By employing various techniques, including data mining and statistical analysis, companies aim to reduce the risk of fraud and maintain trust with their customers.