First party fraud detection system
OwnerRami Mahdi, Darwin Villagomez +1inventors
InventorsRami Mahdi, Darwin Villagomez, Christopher Jones
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Abstract
The present invention provides, in at least one embodiment, a system, and method for detecting first party fraud. When a fraudulent consumer fills out a current application for a discounted commodity, such as cell phone, the system searches for prior applications with the same or similar (i.e., matching) identity information. Based on these matches (i.e., identity linking keys), the system generates marker variables indicative of first party fraud. For example, markers can be the number of matching applications filed for a commodity within a given time period. Lastly, the system outputs a risk score based on the markers. The risk score represents the chance that the current application represents first party fraud.
Claims16
A system comprising:
- a current application comprising identity information of a consumer for obtaining for a commodity;
- a plurality of prior individual applications containing a history of activity of consumers;
- a search module that searches for matching applications between the current application and the prior individual applications based on one or more identity linking keys, wherein the identity linking keys are matches of identity characteristics between the matching applications;
- a generation module which generates markers that are indicative of first party fraud based the identity linking keys in the matching applications, wherein the markers comprise a variance among identity information of the identity linking keys in the matching applications, a frequency between the matching applications, or a total number of the matching applications;
- and
- a predictive module which computes a risk score based on the markers, wherein the risk score represents a chance that the current application represents first party fraud.
A method comprising:
- obtaining identity information from a current application comprising identity information;
- receiving a history of activity of consumers from a plurality of prior individual applications containing;
- using a search module that searches for matching applications between the current application and the prior individual applications based on one or more identity linking keys, wherein the identity linking keys are matches of identity characteristics between the matching applications;
- using a generation module which generates markers that are indicative of first party fraud based the identity linking keys in the matching applications, wherein the markers comprise a variance among identity information of the identity linking keys in the matching applications, a frequency between the matching applications, or a number of the matching applications;
- and
- using a predictive module which computes a risk score based on the markers, wherein the risk score represents a chance that the current application represents first party fraud.
A system comprising:
- a search module that searches for matching applications between a current application and prior applications based on one or more identity linking keys, wherein the identity linking keys are matches of identity characteristics between the matching applications;
- a generation module which generates markers that are indicative of first party fraud based the identity linking keys in the matching applications, wherein the markers comprise a variance among identity information of the identity linking keys in the matching applications, a frequency between the matching applications, or a number of the matching applications;
- and
- a predictive module which computes a risk score based on the markers.
Dependencies are inferred from the claim text.