Method and system for fraud prevention

Method and system for fraud prevention

A method and a system for detecting suspicious transactions and providing warnings in advance of executing the transactions in order to prevent fraud are provided. The method includes: receiving a request to conduct a transaction with an entity by using a digital payment application, the request inc...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Hauptverfasser: Tanuku, Siva, Kizhakkey, Ramu, Middleton, Heidi, Krishnagi, Kumar Rao, Joseph, Jerome
Format: Patent
Sprache:eng
Schlagworte:
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
Online-Zugang:Volltext bestellen
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:A method and a system for detecting suspicious transactions and providing warnings in advance of executing the transactions in order to prevent fraud are provided. The method includes: receiving a request to conduct a transaction with an entity by using a digital payment application, the request including first profile information that relates to the entity; retrieving second profile information that relates to the requestor; comparing the first profile information with the second profile information; and determining, based on a result of the comparison, whether to suspend the requested transaction. When a determination is made that the proposed transaction may be fraudulent, the transaction may be suspended and a warning message may be sent to the requestor in order to afford an opportunity to avoid the fraud.