Regulating fraud probability models
US10068235B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 14, 2016 |
| Grant date | Sep 4, 2018 |
| Priority date | — |
| Expiry date | Feb 14, 2037 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/4093
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An automated purchase transaction analyzes a purchase transaction using a probability model to determine a probability that the transaction is fraudulent. If the probability exceeds a threshold, the transaction may be manually reviewed to determine whether to freeze the account associated with the transaction. When introducing the model, the threshold may be set to a relatively high value so that a small number of transactions are submitted for manual review. After a period of time, the observed freeze rate resulting from manual reviews is compared to a target freeze rate. The threshold is then adjusted upwardly or downwardly to decrease the difference between the observed and target freeze rates.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.