System and method of detecting fraud
First Claim
1. A computerized method of detecting fraud, the method comprising:
- receiving data associated with a financial transaction and at least one transacting entity, wherein the data associated with the transacting entity comprises at least a portion of each of a plurality of historical transactions of the transacting entity;
applying the data to at least one first model;
generating a score based on the first model; and
generating data indicative of fraud based at least partly on the score.
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Accused Products
Abstract
Embodiments include systems and methods of detecting fraud. In particular, one embodiment includes a system and method of detecting fraud in transaction data such as payment card transaction data. For example, one embodiment includes a computerized method of detecting that comprises receiving data associated with a financial transaction and at least one transacting entity, wherein the data associated with the transacting entity comprises at least a portion of each of a plurality of historical transactions of the transacting entity, applying the data to at least one first model, generating a score based on the first model, and generating data indicative of fraud based at least partly on the score. Other embodiments include systems and methods of generating models for use in fraud detection systems.
358 Citations
39 Claims
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1. A computerized method of detecting fraud, the method comprising:
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receiving data associated with a financial transaction and at least one transacting entity, wherein the data associated with the transacting entity comprises at least a portion of each of a plurality of historical transactions of the transacting entity;
applying the data to at least one first model;
generating a score based on the first model; and
generating data indicative of fraud based at least partly on the score. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
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22. A system for detecting fraud, the system comprising:
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a storage configured to receive data associated with at least one transacting entity, wherein the data associated with the transacting entity comprises at least a portion of each of a plurality of historical transactions of the transacting entity; and
a processor configured to;
apply transaction data and the data associated with the at least one transacting entity to at least one first model;
generate a score based on the first model; and
generate data indicative of fraud based at least partly on the score. - View Dependent Claims (23, 24, 25, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38)
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- 26. The system of claim 26, wherein the at least one first model comprises a plurality of models.
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39. A system for detecting fraud, the system comprising:
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means for receiving data associated with at least one transacting entity, wherein the data associated with the transacting entity comprises at least a portion of each of a plurality of historical transactions of the transacting entity; and
means for processing transaction data, said processing means configured to;
apply transaction data and the data associated with the at least one transacting entity to at least one first model;
generate a score based on the first model; and
generate data indicative of fraud based at least partly on the score.
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Specification