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Detecting fraud using information on account holder collected outside the operation of the account

IP.com Disclosure Number: IPCOM000035207D
Original Publication Date: 2005-Jan-20
Included in the Prior Art Database: 2005-Jan-20

Publishing Venue

IBM

Abstract

The accuracy of the fraud scoring process can be improved by including 'out-of-band' data from the activity of the account holder such as current mobile phone location in the 'fraud scoring' process, . The approach proposed here uses 'out-of-band' data from the activity of a given transaction (such as an in person credit card purchase or online banking transaction) and add this to the existing fraud scoring mathematical models.