Reducing false positive fraud alerts for card-present financial transactions

A computer system for reducing false positives among geolocation-based fraud alerts issued in connection with card-present financial transactions, the computer system comprising:

• a location database configured to store geolocation data indicating geographic locations of authorized cardholders over time;
• one or more processors;
• and
• a non-transitory memory storing instructions that, when executed by the one or more processors, cause the one or more processors to
• determine a first geographic location at which information associated with a debit or credit card account was obtained by swiping or inserting a debit or credit card in connection with a financial transaction, wherein the financial transaction (i) is associated with a debit or credit card account and (ii) is a card-present transaction purportedly entered into by an authorized cardholder associated with the debit or credit card account,
• determine that a fraud alert exists for the financial transaction, at least in part by
• comparing the first geographic location to a set of one or more typical locations of the authorized cardholder, and
• generating the fraud alert in response to determining that the first geographic location does not correspond to the set of one or more typical locations, and
• based at least partly on generating the fraud alert:
• determine a time of the financial transaction,
• receive the geolocation data indicating one or more location-based factors including an indication of a flight to which the authorized cardholder checked in,
• determine that the authorized cardholder was at a second geographic location at the time of the financial transaction, the second geographic location including a destination of the flight to which the authorized cardholder checked in,
• determine that the second geographic location is within a threshold distance of the first geographic location,
• receive additional geolocation data from a mobile device of the authorized cardholder, the additional geolocation data including GPS location data;
• and
• in response to determining that the second geographic location is within the threshold distance of the first geographic location and based at least in part on the additional geolocation data, mark the fraud alert as a false positive such that no fraud alert is sent to the authorized cardholder in connection with the financial transaction.

A method comprising:

• determining a first location of a requested card-present transaction associated with a card of an authorized cardholder, the card comprising at least one of a debit card or a credit card;
• determining that the first location is greater than a first threshold distance from a second location of the authorized cardholder, the second location being a home address of the authorized cardholder;
• based at least in part on determining that the first location is greater than the first threshold distance from the second location, identifying a third location of the authorized cardholder at a time of the card-present transaction, wherein the third location is identified based at least in part on geolocation data indicating that the third location is a destination of a flight to which the authorized cardholder checked in;
• determining that the third location is greater than a second threshold distance from the first location;
• receiving additional geolocation data from a mobile device of the authorized cardholder, the additional geolocation data including GPS location data;
• and
• transmitting a fraud alert to a computing system associated with the authorized cardholder based at least in part on determining that the third location is greater than the second threshold distance from the first location and further based at least in part on the additional geolocation data.