Fraud reduction system for transactions
US10089683B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Oct 13, 2010 |
| Grant date | Oct 2, 2018 |
| Priority date | — |
| Expiry date | Aug 5, 2032 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/4016
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system, apparatus, and method for reducing fraud in payment or other transactions by providing issuers with a warning that a transaction being processed for authorization is potentially fraudulent. In some embodiments, the present invention processes data obtained from a consumer authentication process that is used in card not present (CNP) transactions to determine characteristics or indicia of fraud from previous transactions. The characteristics or indicia of fraud can be used to generate a set of fraud detection rules or another form of fraud assessment model. A proposed transaction can then be evaluated for potential fraud using the fraud assessment model.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.