Capacity customization for fraud filtering

• US 8,571,982 B2
• Filed: 07/21/2011
• Issued: 10/29/2013
• Est. Priority Date: 07/21/2011
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Choudhuri, Somnath, Bodalski, Daniel, Hoke, Matthew, Iyer, Sethu V., Pigg, Charles
• Primary Examiner(s): Colbert, Ella
• Application Number:
  US13/187,690
• Publication Number:
  US 20130024361A1
• Time in Patent Office: 831 Days
• Field of Search: 705/35, 705/39
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

A multi-stage filtering process and system for fraud detection is disclosed. The multi-stage filtering process allows for the ability to dynamically increase/decrease server capacity, as well as application capacity to support fraud detection activities. The system monitors the queues of the transactions being made using various channels, and responds by adjusting the server and application resources needed for performing pre-filtering on the transactions in the queues. The invention allows for the fraud detection systems to maintain the capacity necessary to examine, at some level, if one or more of the transactions being processed by a financial institution are potentially fraudulent. The capacity can be changed during times of high and low volumes, thus allowing the allocation of resources based on transaction volume, which reduces the computing, energy, labor, etc. costs associated with fraud detection systems without losing the ability to detect almost all of the fraudulent transactions occurring.

Claims

1. A method for varying a capacity of a fraud detection system, the method comprising:

determining, by a processing device, a current transaction volume being processed by a financial institution, wherein the current transaction volume is a number of current transactions being received and sent by the financial institution per unit of time;

determining an estimated transaction volume for a future time period, wherein the estimated transaction volume for the future time period is a number of estimated transactions that will be received and sent by the financial institution per unit of time for the future time period based on a historical transaction volume of a same or similar time period;

varying the capacity of the filtering system or application based on the current transaction volume and the estimated transaction volume for the future time period;

receiving, by the processing device, transaction data related to one or more transactions from the transaction volume being processed; and

performing, by the processing device, multi-stage filtering on the transaction data received.

2. The method of claim 1, wherein determining the transaction volume comprises monitoring transaction queues at the financial institution.

3. The method of claim 1, wherein the historical transaction volume of the same or similar time period is a number of transactions per unit of time that occurred on a same day and time on a past date.

4. The method of claim 1, wherein varying the capacity of the system comprises increasing the capacity of a server.

5. The method of claim 1, wherein varying the capacity of the system comprises increasing the capacity of a memory.

6. The method of claim 1, wherein varying the capacity of the system comprises increasing a CPU speed.

7. The method of claim 1, wherein varying the capacity of the system comprises decreasing the capacity of a server.

8. The method of claim 1, wherein varying the capacity of the system comprises decreasing the capacity of the memory.

9. The method of claim 1, wherein varying the capacity of the system comprises decreasing a CPU speed.

10. The method of claim 1, wherein varying the capacity of the system comprises increasing software seats.

11. The method of claim 1, wherein varying the capacity of the system comprises decreasing software seats.

12. The method of claim 1, wherein performing multi-stage filtering on the transaction data received comprises performing a preliminary stage filtering on the transaction data.

13. The method of claim 12, wherein the preliminary stage filtering comprises one or more stages of filtering.

14. The method of claim 1, wherein performing multi-stage filtering on the transaction data received comprises performing filtration utilizing rules defined by fraud investigators.

15. The method of claim 14, wherein utilizing rules defined by fraud investigators comprises utilizing one or more rules in multiple stages of filtration.

16. The method of claim 1, further comprising:

initiating a fraud detection-related action for one or more potentially fraudulent transactions identified by performing the multi-stage filtering on the transaction data received.

40. The method of claim 1, wherein varying the capacity of the system comprises decreasing the capacity of a memory.

17. A computer program product for varying a capacity of a fraud detection system, the computer program product comprising at least one non-transitory computer-readable medium having computer-readable program code portions embodied therein, the computer-readable program code portions comprising:

an executable portion configured to determine a current transaction volume being processed by a financial institution, wherein the current transaction volume is a number of current transactions being received and sent by the financial institution per unit of time;

an executable portion configured to determine an estimated transaction volume for a future time period, wherein the estimated transaction volume for the future time period is a number of estimated transactions that will be received and sent by the financial institution per unit of time for the future time period based on a historical transaction volume of a same or similar time period;

an executable portion configured to vary the capacity of the filtering system or application based on the current transaction volume and the estimated transaction volume for the future time period;

an executable portion configured to receive transaction data related to one or more transactions from the transaction volume being processed; and

an executable portion configured to perform multi-stage filtering on the transaction data received.

18. The computer program product of claim 17, wherein the executable portion for determining the transaction volume comprises monitoring transaction queues at the financial institution.

19. The computer program product of claim 17, wherein the historical transaction volume of the same or similar time period is a number of transactions per unit of time that occurred on a same day and time on a past date.

20. The computer program product of claim 17, wherein the executable portion for varying the capacity of the system comprises increasing the capacity of a server.

21. The computer program product of claim 17, wherein the executable portion for varying the capacity of the system comprises increasing the capacity of a memory.

22. The computer program product of claim 17, wherein the executable portion for varying the capacity of the system comprises increasing a CPU speed.

23. The computer program product of claim 17, wherein the executable portion for varying the capacity of the system comprises decreasing the capacity of a server.

24. The computer program product of claim 17, wherein the executable portion for varying the capacity of the system comprises decreasing the capacity of a memory.

25. The computer program product of claim 17, wherein the executable portion for varying the capacity of the system comprises decreasing a CPU speed.

26. The computer program product of claim 17, wherein the executable portion for varying the capacity of the system comprises increasing software seats.

27. The computer program product of claim 17, wherein the executable portion for varying the capacity of the system comprises decreasing software seats.

28. The computer program product of claim 17, wherein the executable portion for performing multi-stage filtering on the transaction data received comprises performing a preliminary stage filtering on the transaction data.

29. The computer program product of claim 28, wherein performing the preliminary stage filtering comprises one or more stages of filtering.

30. The computer program product of claim 17, wherein the executable portion for performing multi-stage filtering on the transaction data received comprises performing filtration utilizing rules defined by fraud investigators.

31. The computer program product of claim 17, wherein utilizing rules defined by fraud investigators comprises utilizing one or more rules in multiple stages of filtration.

32. The computer program product of claim 17, further comprising:

executable portion for initiating a fraud detection-related action for one or more potentially fraudulent transactions identified by performing the multi-stage filtering on the transaction data received.

33. A system for varying a capacity of a fraud detection system, comprising:

a memory device;

a communication device; and

a processing device operatively coupled to the memory device and the communication device, wherein the processing device is configured to execute computer-readable program code to;

determine a current transaction volume being processed by a financial institution, wherein the current transaction volume is a number of current transactions being received and sent by the financial institution per unit of time;

determine an estimated transaction volume for a future time period, wherein the estimated transaction volume for the future time period is a number of estimated transactions that will be received and sent by the financial institution per unit of time for the future time period based on a historical transaction volume of a same or similar time period;

vary the capacity of the filtering system or application based on the current transaction volume and the estimated transaction volume for the future time period;

receive transaction data related to one or more transactions from the transaction volume being processed; and

perform multi-stage filtering on the transaction data received.

34. The system of claim 33, wherein the processing device configured to execute computer-readable program code to determine the transaction volume comprises monitoring transaction queues at the financial institution.

35. The system of claim 33, wherein the historical transaction volume of the same or similar time period is a number of transactions per unit of time that occurred on a same day and time on a past date.

36. The system of claim 33, wherein the processing device configured to execute computer-readable program code to vary the capacity of the system comprises increasing the capacity of a server.

37. The system of claim 33, wherein the processing device configured to execute computer-readable program code to vary the capacity of the system comprises increasing the capacity of a memory.

38. The system of claim 33, wherein the processing device configured to execute computer-readable program code to vary the capacity of the system comprises increasing a CPU speed.

39. The system of claim 33, wherein the processing device configured to execute computer-readable program code to vary the capacity of the system comprises decreasing the capacity of a server.

41. The system of claim 33, wherein the processing device configured to execute computer-readable program code to vary the capacity of the system comprises decreasing a CPU speed.

42. The system of claim 33, wherein the processing device configured to execute computer-readable program code to vary the capacity of the system comprises increasing software seats.

43. The system of claim 33, wherein the processing device configured to execute computer-readable program code to vary the capacity of the system comprises decreasing software seats.

44. The system of claim 33, wherein the processing device configured to execute computer-readable program code to perform multi-stage filtering on the transaction data received comprises performing a preliminary stage filtering on the transaction data.

45. The system of claim 44, wherein the preliminary stage filtering comprises one or more stages of filtering.

46. The system of claim 33, wherein the processing device configured to execute computer-readable program code to perform multi-stage filtering on the transaction data received comprises performing filtration utilizing rules defined by fraud investigators.

47. The system of claim 46, wherein utilizing rules defined by fraud investigators comprises utilizing one or more rules in multiple stages of filtration.

48. The system of claim 33, wherein the processing device if further configured to execute computer-readable program code to initiate a fraud detection-related action for one or more potentially fraudulent transactions identified by performing the multi-stage filtering on the transaction data received.