FIRST PARTY FRAUD DETECTION SYSTEM
Number of patents in Portfolio can not be more than 2000
United States of America Patent
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Issued Date -
Sep 18, 2014
app pub date -
Mar 14, 2013
filing date -
Mar 14, 2013
priority date (Note) -
Abandoned
status (Latency Note)
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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.
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