Method and system for identifying fraudulent account activity
US8117097B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Dec 9, 2009 |
| Grant date | Feb 14, 2012 |
| Priority date | — |
| Expiry date | Dec 9, 2029 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/12
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method and system is provided that evaluates several pieces of information associated with bank accounts at the time they are opened in order to assess the level of fraud risk that the new account creates for the bank. When a new customer establishes an account the various information collected during the account establishment process is analyzed using a logic algorithm that makes a risk assessment. The logic algorithm assigns a risk level wherein the highest risk accounts may be refused immediately while the next highest risk tier is flagged for further monitoring. Once flagged for monitoring, the account is subject to increased scrutiny based on various customer attributes to identify any problematic patterns. If all transactions are normal, the scrutiny flag lapses. If risky transactions continue, a hold is placed on the account and additional investigation is undertaken to either clear or close the account.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.