Identifying Abnormal Financial Transactions in E-Commerce: A Financial Statement Fraud Detection Model Using Op-BGRU and Modified Cheetah Optimization

Identifying Abnormal Financial Transactions in E-Commerce: A Financial Statement Fraud Detection Model Using Op-BGRU and Modified Cheetah Optimization

Dr Raghavi K Bhujang

Abstract

Innovative cybersecurity developments are required to counteract growing cyber dangers caused by the exponential growth of Internet of Things (IoT) devices in entrepreneurial settings. This paper presents a method for detecting financial hazards in e-business commodity transactions using DL and CAD models; the goal is to investigate the detection of anomalous financial commodities in e-business. Because of issues with agencies, information asymmetry exists in all aspects of financial status, information, and reports; this poses a significant risk to the long-term viability of business operations and the efficiency of financial markets. This study takes a look at the financial and non-financial statistics of companies listed on the TWSE/TEPx from 2001 to 2019. Out of the 153 companies that were sampled, 51 reported financial statement fraud and 102 did not. To start, the dataset is cleaned up by doing normalization pre-processing. Financial fraud detection models are constructed by first selecting the most important features using the Modified Cheetah Optimizer. Then, the classifying process is carried out using the Optimized Bidirectional Gated Recurrent Unit (Op-BGRU) model. From what to can tell from the data, the suggested model performs better than the baseline RNN model across the board. This strategy will help in the fight against cybercrime and is a big step in the right direction toward arming entrepreneurs with the resources they need to thrive in the modern digital world. A safe, creative, and informed startup setting is what you get when you use sustainable IoT security measures.

Keywords: Optimized Bidirectional Gated Recurrent Unit; Internet of Things; Modified Cheetah Optimizer; Financial commodities; Entrepreneurs; Sustainable Security.