Deposit fraud detection
AssigneeFmr LLC
InventorsANDREW WIRTHLIN, JOHN ECONOMIDIS, PRAFUL IYER, BRADLEY CARRIER
Life of this patent
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Abstract
A computerized method is provided for automatic monitoring and detection of deposit fraud. Methods can include receiving, by a computing device, user account information, assessing the user account information to determine a fraud risk score and, if sufficient, adding the account to a watchlist for additional monitoring.
Claims20
A computerized method for identifying a fraudulent electronic funds transfer (EFT), the method comprising:
- receiving, at a computing device, user account information for an account depositing funds using EFT;
- evaluating the user account information to assign a risk score to the user account;
- determining that the risk score for the user account is greater than a threshold risk score;
- adding the user account to a watchlist database for fraud detection;
- calculating a number of infractions for the added user account and, when the number of infractions is greater than a selected infraction threshold, marking the deposit for further review,
- wherein calculating the number of infractions includes one or more of analyzing the user account information for a number of authentication infractions, analyzing user deposit records for suspicious activity, analyzing disbursement records for suspicious activity, analyzing user account for suspicious activity, analyzing user deposit records for deposits in bad order, and importing one or more third-party fraud risk scores.
A system for identifying a fraudulent electronic funds transfer (EFT), the system comprising a server computing device comprising a processor and a memory storing instructions that, when executed by the processor, cause the processor to perform the steps of:
- receiving, at a computing device, user account information for an account depositing funds using EFT;
- evaluating the user account information to assign a risk score to the user account;
- determining that the risk score is greater than a threshold risk score;
- adding the user account to a watchlist database for fraud detection;
- calculating a number of infractions for the added user account and, where the number of infractions is greater than a selected infraction threshold, marking the deposit for further review,
- wherein calculating the number of infractions includes one or more of analyzing the user account information for a number of authentication infractions, analyzing user deposit records for suspicious activity, analyzing disbursement records for suspicious activity, analyzing user account for suspicious activity, analyzing user deposit records for deposits in bad order, and importing one or more third-party fraud risk scores.
Dependencies are inferred from the claim text.