System and a method for detecting fraudulent transactions at a transaction site
US10528950B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Oct 6, 2017 |
| Grant date | Jan 7, 2020 |
| Priority date | — |
| Expiry date | Jun 20, 2038 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06N3/02
- WIPO fieldComputer technology
- WIPO sectorElectrical engineering
Abstract
A system and a method for detecting fraudulent transactions at a transaction site by analyzing pattern of events associated with one or more transactions are provided. The present invention provides for forming a collection of most probable fraudulent patterns and true patterns associated with one or more transactions, selecting a pattern classification technique, generating a data input from an ongoing transaction that is interpretable by the selected pattern classification technique, and effectively and efficiently categorising ongoing transaction into fraudulent and genuine transactions using selected pattern classification technique. The present invention may be utilized in a variety of applications where discrete time-ordered visual events are associated with a transaction, for example: vehicles detected in relation to a transit point, badge or card swipes from an automated door lock etc., which indicate trespassing, theft and unauthorized access to restricted areas etc. with a primary focus on retail shrinkage.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.