Systems and methods for fraud management in relation to stored value cards

• US 8,055,584 B2
• Filed: 10/20/2003
• Issued: 11/08/2011
• Est. Priority Date: 10/20/2003
• Status: Active Grant

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Keay, Denise, Monk, Justin, Rhode, Jan, Darmento, Nathan
• Primary Examiner(s): Havan; Thu Thao
• Application Number:
  US10/690,394
• Publication Number:
  US 20050086166A1
• Time in Patent Office: 2,941 Days
• Field of Search: 705/38, 705/36, 705/44, 705/18, 705 39- 41, 705/35, 235/380, 235/379, 382/116, 382/119
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02
• CPC Class Codes: G07G 3/003 Anti-theft control theft alarms G08B13/00

Abstract

Systems and methods for monitoring and/or preventing fraud in relation to account acquisition. In some cases, this account acquisition is ongoing in relation to stored value accounts. Some of the methods provide for receiving suspicious activity indications from one or more issuer analysis engines that are operable to monitor activities occurring in relation to various stored value products. A global negative file is maintained including an update of various of the suspicious activities. An activity request is received from a user in relation to a stored value account, and the activity is checked against the global negative file. A response is generated based at least in part on the information accessible from the global negative file.

Claims

1. An account acquisition fraud management system, the account acquisition fraud management system comprising:

a first analysis engine, wherein the first analysis engine is associated with a first stored value product;

a second analysis engine, wherein the second analysis engine is associated with a second stored value product from a different issuer than an issuer of the first stored value product; and

a cross monitor, wherein the cross monitor is operable to accept a first transaction information from the first analysis engine about a first transaction with the first stored value product and a second transaction information from the second analysis engine about a second transaction with the second stored value product, wherein the first transaction information is provided from the cross monitor to the second analysis engine; and

wherein the second analysis engine is operable to recognize a common load source account to associate the transactions and determine a transaction velocity from the first and second transaction information, and stalling the second transaction when the transaction velocity exceeds a velocity threshold.

2. The system of claim 1, wherein the system further comprises:

a computer readable medium accessible to the cross monitor, wherein the computer readable medium includes the first transaction information and the second transaction information.

3. The system of claim 1, wherein the first transaction information and the second transaction information are selected from a group consisting of:

a physical address;

a telephone number;

a virtual address; and

a load source.

4. The system of claim 1, wherein the cross monitor is further operable to maintain the first transaction information is a queue associated with an issuer of the second stored value card product.

5. A system for suppressing fraudulent activity in relation to account acquisition, the system comprising:

a first load monitor associated with a first issuer;

a second load monitor associated with a second issuer;

a first enrollment monitor associated with the first issuer;

a second enrollment monitor associated with the second issuer; and

a cross monitor, wherein the cross monitor is operable to associate information from the first load monitor or first enrollment monitor, and the second load monitor or second enrollment monitor with a transaction using a first stored value product using common load source account information, and wherein the cross monitor is operable to determine a transaction velocity for the transaction using the information, and communicate the transaction velocity to both the first issuer and the second issuer.

6. The system of claim 5, wherein a request to load value on a stored value product associated with the first issuer is processed at least in part by the first load monitor.

7. The system of claim 6, wherein the first load monitor is operable to apply a velocity check on a load request.

8. The system of claim 5, wherein the first load monitor is further operable to compare the transaction velocity with a predefined velocity limit.

9. The system of claim 8, wherein the first load monitor is operable to provide a detected suspicious activity to the cross monitor.

10. The system of claim 9, wherein the detected suspicious activity is that the transaction velocity has exceeded the predefined velocity limit.