System and method for identity-based fraud detection for transactions using a plurality of historical identity records

US7793835B1 · kind B1 · utility

Assignee

• ID Analytics, Inc. · US

Inventors

• Stephen Coggeshall · Los Alamos, US
• Allen Jost · San Diego, US
• Joseph Blue · Orlando, US
• Christer Dichiara · Carlsbad, US
• Mike Cook · Poway, US
• Xuhul Shao · Palo Alto, US

Key dates

• Filing date: Jul 7, 2009
• Grant date: Sep 14, 2010
• Expiry date: Jul 7, 2029

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/4016
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method for using transaction records to detect fraud, including receiving a plurality of identity records comprising identity related information; receiving a plurality of transaction records comprising transaction information from a plurality of client institutions; linking the plurality of identity records with each other based on the identity related information; linking the plurality of transaction records with the identity records, wherein a link between a transaction record and an identity record is created when a characteristic of the transaction information of the transaction record is similar to a characteristic of the identity related information of the identity record, the links forming a graphical pattern; and performing statistical analysis of the graphical pattern to detect fraud, wherein the statistical analysis comprises analyzing the graphical pattern to determine whether the graphical pattern is anomalous when considered in relation to a normal graphical pattern.