Method and apparatus for generating a bi-gram score in fraud risk analysis
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United States of America Patent
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Aug 14, 2012
Grant Date -
Nov 10, 2011
app pub date -
Jun 24, 2011
filing date -
Jul 28, 1997
priority date (Note) -
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status (Latency Note)
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Abstract
Evaluating fraud risk in a transaction between consumer and a merchant over a network is disclosed. The merchant requests service over the network using a secure, open messaging protocol. An e-commerce transaction or electronic purchase order is received from the merchant, the level of risk associated with each order is measured, and a risk score is returned to the merchant. In one embodiment, data validation, highly predictive artificial intelligence pattern matching, network data aggregation and negative file checks are used to examine numerous factors to calculate fraud risk. A risk score is generated and compared to the merchant's specified risk threshold. The result is returned to the merchant for order disposition.
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