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Yasha Dubey is an Assistant Professor in the Department of Computer Science and Engineering at Gyan Ganga Institute of Technology and Sciences, India. Her research interests include cloud computing, cybersecurity, and software engineering.
Cloud computing has transformed the financial sector by offering scalable, adaptable, and economical infrastructures for banking, digital transactions, insurance, e-commerce, and financial technology (FinTech) services. The transition of financial applications to cloud platforms has allowed organisations to handle millions of transactions instantaneously, enhancing operational efficiency and customer satisfaction. Nonetheless, cloud-based financial systems have emerged as key targets for cybercriminals who capitalise on weaknesses to perpetrate payment fraud, identity theft, account takeover, money laundering, insider threats, and distributed denial-of-service (DDoS) assaults. Conventional rule-based fraud detection mechanisms frequently fall short in managing the volume, velocity, and intricacy of data produced by the cloud. Artificial Intelligence (AI), Machine Learning (ML), Deep Learning (DL), Big Data Analytics, Stream Processing, Behavioural Analytics, and Explainable AI (XAI) have surfaced as potent technologies for instantaneous fraud detection in cloud settings. This chapter delineates the framework, technologies, methodology, applications, obstacles, and prospective research avenues of AI-based real-time fraud detection systems inside cloud-supported financial environments.