Method and system for fraud prevention
OwnerSachin Kumar SINGH, Kaushal SHETTY +1inventors
InventorsSachin Kumar SINGH, Kaushal SHETTY, Mayank JOSHI
Life of this patent
Estimating the term…
Abstract
A method for facilitating fraud prevention is provided. The method includes detecting registration of access control parameters on a user device of a user. Further, a risk score associated with the user device is obtained based on user device features upon the detection of the registration of access control parameters. Payment activities are restricted on the user device for a predefined time period based on the risk score exceeding a threshold risk score. Additionally, non-payment activities remain accessible on the user device during the predefined time period. As a result, fraudulent payment transactions are prevented in case of takeover of the user device by a fraudulent user.
Claims19
A method, comprising:
- monitoring, by processing circuitry of a user device, a plurality of device features associated with the user device;
- determining, by the processing circuitry, a plurality of device feature values for the plurality of device features based on the monitoring;
- detecting, by the processing circuitry, registration of one or more access control parameters that authorize access to one or more operations on the user device;
- and
- performing fraud preventing actions in response to the detection of the registration of the one or more access control parameters on the user device, wherein the fraud preventing actions comprise:
- obtaining, by the processing circuitry, a risk score associated with the user device, wherein the risk score is indicative of a probability of a takeover of the user device by a fraudster and is based on the plurality of device feature values determined from monitoring the plurality of device features during a monitoring period associated with the detecting;
- and
- restricting, by the processing circuitry, one or more payment activities on a set of applications installed on the user device for a bounded first time period based on the risk score exceeding a threshold risk score and withdrawing the restriction on the set of applications installed on the device thereafter.
The method of claim 8, further comprising inputting, by the processing circuitry, the plurality of user device feature values to a trained risk score machine learning model, wherein the risk score is outputted by the trained risk score machine learning model based on the plurality of user device feature values.
A device comprising:
- processing circuitry configured to:
- monitor a plurality of device features associated with the device;
- determine a plurality of device feature values for the plurality of device features based on the monitoring;
- detect registration of one or more access control parameters that authorize access to one or more operations on the device;
- and
- perform fraud preventing actions in response to the detection of the registration of the one or more access control parameters on the user device, wherein the fraud preventing actions comprise:
- obtaining a risk score associated with the device, wherein the risk score is indicative of a probability of a takeover of the device by a fraudster and is based on the plurality of device feature values determined from monitoring the plurality of device features during a monitoring period associated with the detecting;
- and
- restricting one or more payment activities on a set of applications installed on the device for a bounded first time period based on the risk score exceeding a threshold risk score and withdrawing the restriction on the set of applications installed on the device thereafter.
(canceled)
Dependencies are inferred from the claim text.