In the banking industry, artificial intelligence (AI) tools for fraud detection and prevention are becoming more and more common. This paper provides a comprehensive examination of the impact of artificial intelligence (AI) on financial fraud detection. It makes clear the limitations of traditional methods for detecting financial fraud and highlights how difficult it is to handle the growing complexity of fraudulent activities. The various applications of artificial intelligence (AI) methods, such as machine learning, deep learning, natural language processing, and anomaly detection, to enhance fraud detection abilities are then covered.