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Fraud detection using predictive modeling

DC
  • US 5,819,226 A
  • Filed: 09/08/1992
  • Issued: 10/06/1998
  • Est. Priority Date: 09/08/1992
  • Status: Expired due to Term
First Claim
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1. In a computer having a processor and storage, a computer-implemented process for detecting a fraudulent transaction in a customer account, comprising the steps of:

  • obtaining past transaction data for processing by the computerpre-processing the past transaction data to derive past fraud related variables;

    generating a predictive model with the processor from the past fraud related variables;

    storing a representation of the predictive model in the computer storage;

    receiving current transaction data for processing by the processor;

    receiving customer data for processing by the processor; and

    generating a computer signal indicative of the likelihood of fraud in the current transaction, wherein the processor generates the computer signal by applying the current transaction data and the customer data to the stored predictive model.

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