SYSTEM AND METHOD OF DETECTING FRAUD
First Claim
1. A computerized method of detecting fraud, the method comprising:
- receiving, on at least one processor, data associated with a financial transaction and at least one transacting entity;
storing the data to a data storage;
selecting at least one model from a plurality of models;
applying the data to the selected model;
generating a score based on the selected model; and
generating data indicative of fraud based at least partly on the score.
6 Assignments
0 Petitions
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.
-
Citations
28 Claims
-
1. A computerized method of detecting fraud, the method comprising:
-
receiving, on at least one processor, data associated with a financial transaction and at least one transacting entity; storing the data to a data storage; selecting at least one model from a plurality of models; applying the data to the selected model; generating a score based on the selected 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. A system for detecting fraud, the system comprising:
-
a storage configured to receive data associated with at least one transacting entity; and a processor configured to; select at least one model; apply transaction data and the data associated with the at least one transacting entity to at least one model; generate a score based on the model; and generate data indicative of fraud based at least partly on the score. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
-
-
27. A computer readable medium having computer readable program code embodied thereon for detecting fraudulent transactions, the method comprising:
-
receiving data associated with a financial transaction and at least one transacting entity into a data storage; applying the data to at least one model; generating a score based on the model; and generating data indicative of fraud based at least partly on the score, wherein the data associated with the transacting entity comprises respective values of at least one data field of each of a plurality of historical transactions of the transacting entity.
-
-
28. A computerized fraud detection system, comprising:
-
means for receiving, on at least one processor, data associated with a financial transaction and at least one transacting entity, wherein the data associated with the transacting entity comprises respective values of at least one data field of each of a plurality of historical transactions of the transacting entity; means for processing transaction data, said processing means configured to; apply the data to at least one model; generate a score based on the model; and generate data indicative of fraud based at least partly on the score.
-
Specification