Systems and methods for using social network data to determine payment fraud
US9818117B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Aug 8, 2016 |
| Grant date | Nov 14, 2017 |
| Priority date | — |
| Expiry date | Sep 17, 2036 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q50/01
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A computer-implemented method for analyzing potentially fraudulent e-commerce payment transactions utilizing social media data is provided. The method uses a fraud monitoring device in communication with a memory. The method includes receiving a request to assess the fraud risk of an online transaction initiated by a cardholder using a payment card and accessing a social media account associated with the cardholder. The social media account includes a circle of friends, where each friend in the circle of friends is associated with a social media account. The method also includes determining one or more historical transactions associated with at least one friend in the circle of friends, calculating a social risk score for the cardholder based in part on the determined one or more historical transactions, and transmitting a consolidated risk assessment of the online transaction based in part on the social risk score.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.