Long-term short-term cascade modeling for fraud detection

A method for determining a risk score for a plurality of data transactions, the method comprising:

• a computing system comprising at least one processor performing an act of receiving a plurality of data transactions at a first risk score module;
• the at least one processor performing an act of the first risk score module determining a first risk score for each of the plurality of data transactions, wherein the first risk core module is a long-term risk score module with respect to a second risk score module;
• the at least one processor performing an act of the second risk score module that is different from the first risk score module receiving each of the first risk scores determined by the first risk score module as an input, wherein the second risk score module is a short-term risk score module with respect to the first risk score module;
• and
• the at least one processor performing an act of the second risk score module determining a second risk score based on the input first risk scores and one or more other risk parameters for each of the plurality of data transactions;
• and
• based on the second risk score, the at least one processor performing, in real time, at least one of approving, rejecting, or causing to be further reviewed each of the data transactions, by a decision module of the computing system.

A computing system for determining a risk score for a plurality of data transactions, the computing system comprising:

• at least one processor;
• a computer readable hardware storage device having stored thereon computer-executable instructions which, when executed by the at least one processor, cause the computing system to instantiate the following:
• a first risk score module, wherein the first risk score module is a long-term risk score module with respect to a second risk score module, that is configured to:
• receive a plurality of data transactions;
• and
• determine a first risk score for each of the plurality of data transactions;
• and
• the second risk score module that is different from the first risk score module, wherein in the second risk score module is a short-term risk score module with respect to the first risk score module, and that is configured to:
• receive each of the first risk scores determined by the first risk score module as an input;
• and
• determine a second risk score based on the input first risk scores and one or more other risk parameters for each of the plurality of data transactions;
• and
• a decision module that is configured to, based on the second risk score, in real time, at least one of approve, reject, or cause to be further reviewed each of the data transactions.