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With the 5th largest economy in the world right now, “Digital India” is one of the government’s measures to boost the nation’s economy. The government has encouraged bank digitization and which resulted in people switching from traditional payment methods to digital payment methods such as Unified Payment Interface (UPI), Net Banking, Digital wallets, prepaid/debit, and postpaid cards. Spending behavior of consumers/Customers has been changed in comparison to pre-Covid time (before 2019). This paper aims to propose a fraud detection mechanism based on the XGboost outlier detection technique. This paper includes a comprehensive study on the exponential growth of UPI users and cyber frauds in a few years; therefore, it increased importance on what financial institutes decide fraud detection methods.

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Fraud Detection Mechanism for UPI Payments Using XGBoost Outlier Detection

  • 会议论文

  • 发表日期：

    2025年

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  • Nitin Verma,
  • Neha Tyagi

摘要

With the 5th largest economy in the world right now, “Digital India” is one of the government’s measures to boost the nation’s economy. The government has encouraged bank digitization and which resulted in people switching from traditional payment methods to digital payment methods such as Unified Payment Interface (UPI), Net Banking, Digital wallets, prepaid/debit, and postpaid cards. Spending behavior of consumers/Customers has been changed in comparison to pre-Covid time (before 2019). This paper aims to propose a fraud detection mechanism based on the XGboost outlier detection technique. This paper includes a comprehensive study on the exponential growth of UPI users and cyber frauds in a few years; therefore, it increased importance on what financial institutes decide fraud detection methods.