Systems and methods for fraud management in relation to stored value cards

• US 20050086166A1
• Filed: 10/20/2003
• Published: 04/21/2005
• Est. Priority Date: 10/20/2003
• Status: Active Grant

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Rhode, Joan, Keay, Denise, Monk, Justin, Darmento, Nathan
• Granted Patent: US 8,055,584 B2
• Time in Patent Office: Days
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02
• CPC Class Codes: G07G 3/003 Anti-theft control theft alarms G08B13/00

Abstract

Systems and methods for monitoring and/or preventing fraud in relation to account acquisition. In some cases, this account acquisition is ongoing in relation to stored value accounts. Some of the methods provide for receiving suspicious activity indications from one or more issuer analysis engines that are operable to monitor activities occurring in relation to various stored value products. A global negative file is maintained including an update of various of the suspicious activities. An activity request is received from a user in relation to a stored value account, and the activity is checked against the global negative file. A response is generated based at least in part on the information accessible from the global negative file.

Claims

1. An account acquisition fraud management system, the account acquisition fraud management system comprising:

a first analysis engine, wherein the first analysis engine is associated with a first stored value product;

a second analysis engine, wherein the second analysis engine is associated with a second stored value product; and

a cross monitor, wherein the cross monitor is operable to accept a first transaction information from the first analysis engine and a second transaction information from the second analysis engine, wherein the first transaction information is provided from the cross monitor to the second analysis engine; and

wherein the second analysis engine is operable to reject a request for the second stored value card product based at least in part on the first transaction information.

2. The system of claim 1, wherein the system further comprises:

a computer readable medium accessible to the cross monitor, wherein the computer readable medium includes the first transaction information and the second transaction information.

3. The system of claim 1, wherein the first transaction information is used to create a transaction velocity.

4. The system of claim 1, wherein the first transaction information and the second transaction information are selected from a group consisting of:

a physical address;

a telephone number;

a virtual address; and

a load source.

5. The system of claim 1, wherein the cross monitor is further operable to maintain the first transaction information is a queue associated with an issuer of the second stored value card product.

6. A method for detecting fraud in relation to stored value products, the method comprising:

receiving a first suspicious activity indication from a first issuer analysis engine, wherein the first issuer analysis engine is operable to monitor activities occurring in relation to a first plurality of stored value products associated with the first issuer;

receiving a second suspicious activity indication from a second issuer analysis engine, wherein the second issuer analysis engine is operable to monitor activities occurring in relation to a second plurality of stored value products associated with the second issuer;

maintaining the first suspicious activity indication and the second suspicious activity indication in a global negative file;

receiving an activity request from the first issuer analysis engine, wherein the request includes a transaction information;

based at least in part on the transaction information, accessing the global negative file; and

providing a response, wherein the response indicates the transaction information is related to suspicious behavior.

7. The method of claim 6, wherein the transaction information is used to create a velocity.

8. The method of claim 7, wherein the transaction information is selected from a group consisting of:

a physical address;

a telephone number;

a virtual address; and

a load source.

9. The method of claim 6, wherein the transaction information is a physical address.

10. The method of claim 6, wherein the transaction information is a telephone number.

11. The method of claim 6, wherein the transaction information is a virtual address.

12. The method of claim 6, wherein the response is maintained in a queue associated with the first issuer.

13. The method of claim 12, wherein the response includes at least two of the following:

a date of the suspicious behavior;

a funding account number;

a denial reason;

a review status; and

a reviewer note.

14. The method of claim 12, wherein the response includes an indication of related accounts.

15. The method of claim 6, wherein the response is a first response associated with a first account, wherein the global negative file indicates a second account associated with the first account, and wherein the method further comprises:

providing a second response to the second issuer associated with the second account.

16. A system for suppressing fraudulent activity in relation to account acquisition, the system comprising:

a first load monitor associated with a first issuer;

a second load monitor associated with a second issuer;

a first enrollment monitor associated with the first issuer;

a second enrollment monitor associated with the second issuer; and

a cross monitor, wherein the cross monitor is operable to accept information from one or more of the first load monitor, the second load monitor, the first enrollment monitor and the second enrollment monitor, and wherein the cross monitor is operable to communicate suspicious activity to both the first issuer and the second issuer.

17. The system of claim 16, wherein a request to load value on a stored value product associated with the first issuer is processed at least in part by the first load monitor.

18. The system of claim 17, wherein the first load monitor is operable to apply a velocity check on a load request.

19. The system of claim 18, wherein the first load monitor is further operable to compare the velocity with a predefined velocity limit.

20. The system of claim 19, wherein the first load monitor is operable to provide a detected suspicious activity to the cross monitor.