Goudar, S.I.Bhowmik, B.2026-02-0620243rd International Conference on Communication, Control, and Intelligent Systems, CCIS 2024, 2024, Vol., , p. -https://doi.org/10.1109/CCIS63231.2024.10932113https://idr.nitk.ac.in/handle/123456789/29196In an era where financial services are easily accessible, financial fraud has emerged as a widespread threat, aimed at unlawfully seizing assets from individuals, businesses, and institutions. Crimes like credit card and internet banking fraud present serious risks to the financial ecosystem. Criminals exploit card information using techniques such as identity theft, skimming, and phishing, causing substantial economic losses each year. Similarly, the rise of internet banking fraud, where unauthorized access to accounts often results from weaknesses in authentication systems, has further disrupted the financial sector. Detecting such fraudulent activities is especially difficult due to the ever-changing tactics of perpetrators, the large volume of transaction data, and technical challenges like data imbalance and concept drift. This paper examines the landscape of financial fraud, with a specific emphasis on credit card and internet banking fraud. It begins by providing an overview of the issue and its impact on the modern economic environment, followed by an exploration of various fraud detection methods. Additionally, the paper addresses key challenges in fraud detection and highlights the need for innovative approaches to effectively combat the growing threat of financial crime. © 2024 IEEE.Concept DriftCredit Card FraudEconomic ThreatFinancial FraudInternet Banking FraudUnauthorized Transactions