
Fraud detection empowered by federated learning with the Flower framework on Amazon SageMaker AI
Fraud detection remains a significant challenge in the financial industry, requiring advanced machine learning (ML) techniques to detect fraudulent patterns while maintaining compliance with strict privacy regulations. Traditional ML models often rely on centralized data aggregation, which raises concerns about data security and regulatory constraints. Fraud cost businesses over $485.6 billion in 2023 alone, according…