Fraud detection

Patent metadata

Field	Value
Publication number	US-2016005044-A1
Application number	US-201414322499-A
Country	US
Kind code	A1
Filing date	Jul 2, 2014
Priority date	Jul 2, 2014
Publication date	Jan 7, 2016
Grant date	—

Abstract

Systems and methods of fraud prevention are discussed. One such method can include the acts of monitoring one or more events associated with at least one account at a financial institution; analyzing characteristics associated with a first event of the one or more events; determining whether to designate the first event as risky; and implementing one or more measures in response to the designation of the first event as risky.

First claim

What is claimed is:

1 . A system, comprising:
a monitoring component that monitors one or more characteristics associated with an event, wherein the event is associated with a financial institution and an account at the financial institution; a risk identification component that analyzes the one or more characteristics to determine whether to designate the event as risky; and a response component that implements one or more measures in response to the designation of the event as risky.

2 . The system of claim 1 , wherein the risk identification component determines whether to designate the event as risky based on a comparison between the one or more monitored characteristics and at least one threshold for the one or more monitored characteristics.

3 . The system of claim 2 , wherein the at least one threshold is a dynamic threshold.

4 . The system of claim 1 , further comprising a fraud database that stores information associated with one or more additional events previously designated as risky, wherein the risk identification component determines whether to designate the event as risky based on a comparison between the one or more monitored characteristics and the information associated with the one or more additional events.

5 . The system of claim 4 , wherein the stored information comprises one or more of a fraud rate or a fraud velocity associated with the one or more additional events.

6 . The system of claim 4 , wherein the one or more additional events comprise at least one offline event.

7 . The system of claim 4 , wherein the one or more additional events comprises at least one event that is associated with one or more of prevented fraud or unconfirmed fraud.

8 . The system of claim 1 , wherein the risk identification component determines whether to designate the event as risky based on a determination that the event is associated with a cluster of risky events.

9 . The system of claim 8 , wherein the cluster of risky events is associated with a common modus operandi.

10 . The system of claim 1 , wherein the one or more measures comprises at least one of alerting an owner of the account, freezing the account, or requiring additional information or acts to access the account.

11 . The system of claim 1 , wherein the risk identification component determines whether to designate the event as risky based on a determination that the event is associated with an access point previously designated as risky.

12 . The system of claim 1 , wherein the risk identification component determines one or more of a likelihood of potential fraud or a type of potential fraud associated with the event, and wherein the response component implements the one or more measures based at least in part on one or more of the likelihood of potential fraud or the type of potential fraud.

13 . A method, comprising:
monitoring one or more events associated with at least one account at a financial institution; analyzing characteristics associated with a first event of the one or more events; determining whether to designate the first event as risky; and implementing one or more fraud response measures in response to the designation of the first event as risky.

14 . The method of claim 13 , wherein the analyzing comprises analyzing whether the first event is associated with a cluster of risky events.

15 . The method of claim 13 , wherein the analyzing comprises analyzing whether the first event is associated with a risky access point.

16 . The method of claim 13 , wherein the analyzing comprises analyzing whether one or more characteristics of the first event exceed a risk threshold.

17 . A method, comprising:
monitoring an access point for one or more events associated with at least one account at a financial institution; analyzing characteristics associated with the one or more events; determining whether to designate the access point as risky; and implementing one or more measures in response to subsequent events associated with the access point.

18 . The method of claim 16 , wherein the determining comprises correlating one or more offline fraud events to at least one of the one or more events.

19 . The method of claim 16 , wherein the determining comprises comparing at least one of a fraud rate, a fraud velocity, or one or more past fraudulent events to one or more risk thresholds.

20 . The method of claim 16 , wherein the determining comprises analyzing one or more past events associated with the access point.

Assignees

• Moss Beth
• Berkery Angela
• Johnson Michael J
• Geertz Benjamin W
• Wells Fargo Bank Na

Inventors

• Moss Beth
• Berkery Angela
• Johnson Michael J
• Geertz Benjamin W

Classifications

• G06Q20/4016 Primary

  involving fraud or risk level assessment in transaction processing · CPC title