Fraud prevention system and method
Number of patents in Portfolio can not be more than 2000
United States of America Patent
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N/A
Issued Date -
N/A
app pub date -
Jan 31, 2003
filing date -
Jan 7, 2000
priority date (Note) -
Abandoned
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Abstract
A system and method for preventing fraud. The method typically includes identifying one or more fraud indicators and examining past transactions and/or a pending transaction associated with the account for the presence of the fraud indicators. The method also includes, by said examining, detecting at least one of the fraud indicators. The method also includes calculating a cumulative fraud risk level associated with the pending transaction based on the detected fraud indicators. The method may also include determining whether the cumulative fraud risk level meets or exceeds a predetermined threshold, and if the cumulative fraud risk level meets or exceeds the predetermined threshold, verifying the request for the transaction with an owner of the account. The method may further include assigning a weighted value to each of the fraud indicators. The account is typically a telephone calling account, such as a calling card account.
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