Fraud detection software is a type of technology designed to identify and prevent fraudulent activities, particularly in financial transactions. It uses algorithms and data analysis to spot unusual patterns or behaviors that may indicate fraud, such as unauthorized credit card use or identity theft. This software is commonly used by banks, credit card companies, and online retailers to protect their customers and reduce financial losses. These systems often employ machine learning techniques to improve their accuracy over time. By analyzing large volumes of data, fraud detection software can adapt to new fraud tactics and enhance its ability to flag suspicious activities, ensuring better security for users and businesses alike.