Fraud risk advisor
First Claim
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1. A method for determining if an online transaction is fraudulent, comprising the steps of:
- computing one or more factors based on the IP address of the user, wherein at least one factor is the travel velocity of the user between a first access location and a second access location;
determining whether the transaction is fraudulent based on the one or more factors; and
generating a risk score associated with the transaction.
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Abstract
A fraudulent business transaction application (FBTA) is provided for monitoring application based fraud. When a consumer supplies account access information in order to carry out an Internet business transaction, the FBTA uses an online fraud mitigation engine to detect phishing intrusions and identity theft. Methods are also provided for calculating travel velocity and transaction frequency, which are useful for determining a fraudulent transaction.
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Citations
33 Claims
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1. A method for determining if an online transaction is fraudulent, comprising the steps of:
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computing one or more factors based on the IP address of the user, wherein at least one factor is the travel velocity of the user between a first access location and a second access location; determining whether the transaction is fraudulent based on the one or more factors; and generating a risk score associated with the transaction. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33)
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Specification