Method and system for detecting fraud in a credit card transaction over the internet

Abstract

A method and system for detecting fraud in a credit card transaction between consumer and a merchant over the internet. The method and system comprises obtaining credit card information relating to the transaction from the consumer; and verifying the credit card information based upon a variety of parameters. The variety of parameters are weighted so as to provide a merchant with a quantifiable indication of whether the credit card transaction is fraudulent. In so doing, an integrated verification system is provided which allows a merchant, or the like, to accurately and efficiently determine the validity of a transaction over the internet.

1 . A system for detecting fraud in a credit card transaction between consumer and a merchant over the internet comprising:
 means for obtaining credit card information relating to the transaction from the consumer;   means for verifying the credit card information based upon a plurality of parameters comprising:
 a) means for obtaining information about other transactions that have utilized an internet address that is identified with the credit card transaction; 
 b) means for constructing a map of credit card numbers based upon the other transactions; 
 c) means for utilizing the map of credit card numbers to determine if the credit card transaction is valid. 
   
     
     
         2 . The system of  claim 1  wherein the plurality of parameters include a consistency check, a history check, an automatic verification system and an internet identification system. 
     
     
         3 . The system of  claim 2  wherein the history check includes a database which can be accessed and supplemented by other merchants. 
     
     
         4 . The system of  claim 2  wherein the internet identification system includes a database which can be accessed and supplemented by other merchants. 
     
     
         5 . A computer readable medium containing program instructions for detecting fraud in a credit card transaction between consumer and a merchant over the internet, the program instructions configured for:
 obtaining credit card information relating to the transaction from the consumer;   verifying the credit card information based upon a plurality of parameters by:   a) obtaining information about other transactions that have utilized an internet address that is identified with the credit card transaction;   b) constructing a map of credit card numbers based upon the other transactions and;   c) utilizing the map of credit card numbers to determine if the credit card transaction is valid.   
     
     
         6 . The computer readable medium of  claim 5  wherein the plurality of parameters include a consistency check, a history check, an automatic verification system and an internet identification system. 
     
     
         7 . The computer readable medium of  claim 6  wherein the history check includes a database which can be accessed and supplemented by other merchants. 
     
     
         8 . The computer readable medium of  claim 6  wherein the internet identification system includes a database which can be accessed and supplemented by other merchants.