Identity theft monitoring and prevention

• US 20060271457A1
• Filed: 05/26/2005
• Published: 11/30/2006
• Est. Priority Date: 05/26/2005
• Status: Abandoned Application

• Current Assignee: Efunds Corporation (Fidelity National Information Services Incorporated)
• Original Assignee: Efunds Corporation (Fidelity National Information Services Incorporated)
• Inventors: Bjerke, Paul P., Romain, Martin R.
• Application Number:
  US11/139,021
• Publication Number:
  US 20060271457A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Systems and methods of monitoring financial information of a consumer for fraudulent activity. One system can include an identity verification system configured to verify an identity of a consumer. The system can include a new account identity theft detection system configured to determine a first score for a new account application submitted by the consumer, the first score indicating likelihood that the new account application is fraudulent, and an address analyzer configured to determine a second score for an address modification submitted by the consumer, the second score indicating likelihood that the address modification is fraudulent.

Claims

1. A system for monitoring financial information of a consumer for fraudulent activity, the system comprising:

an identity verification system configured to verify an identity of the consumer;

a new account identity theft detection system configured to determine a first score for a new account application submitted by the consumer, the first score indicating a likelihood the new account application is fraudulent; and

an address analyzer configured to determine a second score for an address modification submitted by the consumer, the second score indicating a likelihood the address modification is fraudulent.

2. The system of claim 1 further comprising an address analytics database configured to store the second score.

3. The system of claim 1 wherein the address analyzer is configured to provide supporting documentation for the second score.

4. The system of claim 1 further comprising an identity theft management system configured to determine an identity theft risk of the consumer.

5. The system of claim 1 further comprising an identity theft management system configured to generate an identity theft protection plan for the consumer.

6. The system of claim 1 further comprising an identity theft management system configured to generate an identity theft recovery plan for the consumer.

7. The system of claim 1 further comprising an identity theft management system configured to provide identity theft insurance to the consumer.

8. The system of claim 1 further comprising an information network configured to provide access to identity theft criminal information.

9. The system of claim 8 wherein the information network is further configured to provide access to a plurality of suspect files.

10. The system of claim 9 wherein the identity verification system is configured to use the plurality of suspect files to verify the identity of the consumer.

11. The system of claim 9 wherein the new account identity theft detection system is configured to use the plurality of suspect files to determine the first score.

12. The system of claim 1 wherein the identity verification system is configured to determine if an address mismatch is associated with an address modification.

13. The system of claim 1 further comprising a new account verification system configured to determine financial risk involved in accepting a new account application.

14. The system of claim 1 further comprising a monitoring system configured to receive an event from an event provider, to determine if the event is associated with financial information of the consumer, to generate a notification, and to provide the notification to the consumer.

15. The system of claim 14 wherein the monitoring system is configured receive a plurality of events including at least one of a new account inquiry event, an account closure event, an account freeze information event, a payment device order event, a returned payment event, and a lost or stolen account information event.

16. The system of claim 14 wherein the monitoring system is configured to receive a disagreement notification from the consumer.

17. The system of claim 14 wherein the monitoring system is configured to transmit an identity theft notice.

18. The system of claim 14 further comprising an identity theft management system configured to receive a disagreement notification from the consumer.

19. The system of claim 18 wherein the identity theft management system is further configured to transmit an identity theft notice.

20. A method of monitoring financial information of a consumer for fraudulent activity, the method comprising:

receiving a new account application from the consumer;

verifying the identity of the consumer;

determining a first score for the new account application, the first score indicating a likelihood the new account application is fraudulent;

determining a second score for the new account application, the second score indicating a likelihood an address included in the new account application is fraudulent; and

providing a response for the new account application.

21. The method of claim 20 further comprising storing the second score in an address analytics database.

22. The method of claim 20 further comprising providing identity theft management.

23. The method of claim 22 wherein providing identity theft management includes determining an identity theft risk of the consumer.

24. The method of claim 22 wherein providing identity theft management includes generating an identity theft protection plan for the consumer.

25. The method of claim 22 wherein providing identity theft management includes generating an identity theft recovery plan for the consumer.

26. The method of claim 22 wherein providing identity theft management includes providing identity theft insurance to the consumer.

27. The method of claim 20 wherein receiving a new account application from the consumer includes receiving a new account application from a financial institution.

28. The method of claim 27 wherein providing a response for the new account application includes providing a response to the vendor.

29. The method of claim 20 wherein providing a response for the new account application includes providing a response to the consumer.

30. The method of claim 20 wherein providing a response for the new account application includes providing a response in real-time.

31. The method of claim 20 further comprising determining if an address mismatch is associated with the new account application.

32. The method of claim 20 further comprising obtaining identity theft criminal information from an information network.

33. The method of claim 32 further comprising obtaining a plurality of suspect files from the information network.

34. The method of claim 33 further comprising using the plurality of suspect files to verify the identity of the consumer.

35. The method of claim 33 further comprising using the plurality of suspect files to determine the first score.

36. The method of claim 20 further comprising receiving an account address update from the consumer.

37. The method of claim 36 further comprising determining a third score indicating a likelihood the account address update is fraudulent.

38. The method of claim 37 further comprising storing the third score in an address analytics database.

39. The method of claim 36 further comprising providing a response for the account address update.

40. The method of claim 20 further comprising determining financial risk involved with the new account application.

41. The method of claim 20 further comprising receiving an event from an event provider, determining if the event is associated with financial information of the consumer, generating a notification, and providing the notification to the consumer.

42. The method of claim 41 further comprising receiving a plurality of events including at least one of a new account inquiry event, an account closure event, an account freeze information event, a payment device order event, a returned payment event, and a lost or stolen account information event.

43. The method of claim 41 further comprising receiving a disagreement notification from the consumer.

44. The method of claim 43 further comprising transmitting an identity theft notice.