System and method for developing an analytic fraud model
First Claim
1. The method of building a model to predict likelihood that a transaction is fraudulent, comprising:
- storing a log of credit transaction information comprising requests for credit reports and including application information used by a credit requester;
storing deleted credit inquires, said deleted credit inquiries comprising fraudulent requests for credit reports;
filtering the stored deleted credit inquiries for a select period to obtain a sample of fraudulent transactions;
obtaining select fraudulent credit transaction information from the log for the sample of fraudulent transactions;
obtaining a sample of random credit transaction information for the select period from the log;
processing the fraudulent credit transaction information and the random credit transaction information to determine characteristics of fraudulent and non-fraudulent application information used by credit requesters; and
developing a predictive fraud model using the determined characteristics.
1 Assignment
0 Petitions
Accused Products
Abstract
A system and method is provided for developing an analytic fraud model to predict likelihood that a transaction is fraudulent comprising a first database storing a log of credit transaction information comprising requests for credit reports and including application information used by a credit requestor. A second database stores deleted credit inquiries. The deleted credit inquiries comprise fraudulent requests for credit reports. A programmed processing system is operatively associated with the first and second databases and operates in accordance with a sampling program. The sampling program filters the stored deleted credit inquiries for a select period to obtain a sample of fraudulent transactions, obtains select fraudulent credit transaction information from the log for the sample of fraudulent transactions, obtains a sample of random credit transaction information for the select period from the log, and processes the fraudulent credit transaction information and the random credit transaction information to determine characteristics of fraudulent and non-fraudulent application information used by credit requester. A predictive fraud model is developed using the determined characteristics.
235 Citations
20 Claims
-
1. The method of building a model to predict likelihood that a transaction is fraudulent, comprising:
-
storing a log of credit transaction information comprising requests for credit reports and including application information used by a credit requester;
storing deleted credit inquires, said deleted credit inquiries comprising fraudulent requests for credit reports;
filtering the stored deleted credit inquiries for a select period to obtain a sample of fraudulent transactions;
obtaining select fraudulent credit transaction information from the log for the sample of fraudulent transactions;
obtaining a sample of random credit transaction information for the select period from the log;
processing the fraudulent credit transaction information and the random credit transaction information to determine characteristics of fraudulent and non-fraudulent application information used by credit requesters; and
developing a predictive fraud model using the determined characteristics. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
-
-
9. The method of developing an analytic fraud model, comprising:
-
storing a transaction log of application information used to make credit requests;
deleting credit inquiries from credit files that are determined to be fraudulent;
storing the deleted credit inquires;
obtaining select fraudulent application information from the transaction log for the stored deleted credit inquiries for a select recent time period;
obtaining a sample of random application information from the transaction log for the select recent time period;
processing the fraudulent application information and the random application information to determine characteristics of fraudulent and non-fraudulent application information used to make credit requests; and
developing a predictive fraud model using the determined characteristics. - View Dependent Claims (10, 11, 12, 13)
-
-
14. A system for developing an analytic fraud model to predict likelihood that a transaction is fraudulent, comprising:
-
a first database storing a log of credit transaction information comprising requests for credit reports and including application information used by a credit requester;
a second database storing deleted credit inquires, said deleted credit inquiries comprising fraudulent requests for credit reports;
a programmed processing system operatively associated with the first and second databases operating in accordance with a sampling program to filter the stored deleted credit inquiries for a select period to obtain a sample of fraudulent transactions, obtain select fraudulent credit transaction information from the log for the sample of fraudulent transactions, obtain a sample of random credit transaction information for the select period from the log, and process the fraudulent credit transaction information and the random credit transaction information to determine characteristics of fraudulent and non-fraudulent application information used by credit requesters; and
means operatively associated with the programmed processing system for developing a predictive fraud model using the determined characteristics. - View Dependent Claims (15, 16, 17, 18, 19, 20)
-
Specification