Fraud detection rule optimization
US11449870B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Aug 5, 2020 |
| Grant date | Sep 20, 2022 |
| Priority date | — |
| Expiry date | Jan 22, 2041 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q2220/00
- WIPO fieldComputer technology
- WIPO sectorElectrical engineering
Abstract
An improved method and apparatus for determining if a financial transaction is fraudulent is described. The apparatus in one embodiment collects transactions off of a rail using promiscuous listening techniques. The method uses linear programming algorithms to tune the rules used for making the determination. The tuning first simulates using historical data and then creates a matrix of the rules that are processed through the linear programming algorithm to solve for the variables in the rules. With the updated rules, a second simulation is performed to view the improvement in the performance. The updated rules are then used to evaluate the transactions for fraud.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.