Method and Apparatus for Detecting Rogue Trading Activity

Abstract

A system ( 10 ) and method for detecting fraudulent activity in the execution of transactions is disclosed. The system ( 10 ) comprises a monitoring device ( 60 ) for reviewing data relating to execution of transactions, a transaction profile ( 62 ) and an alert module ( 67 ). The transaction profile ( 62 ) includes a plurality of historic data items ( 66 ) relating to typical transactions, which can be compared with current execution of transactions to generate an alert by the alert module ( 67 ) if unusual activity is determined.

1 . A system for detecting fraudulent activity, the system comprising:
 a monitoring device for reviewing data relating to execution of transactions;   a transaction profile, the transaction profile including a plurality of historic data items relating to typical transactions; and   an alert module for generating an alert on detection of irregularities in the transactions.   
     
     
         2 . The system of  claim 1 , wherein the data items comprise at least one of sales transactions, put options, sell options, global address lookup, network address, network information, routing information, time, date, and device cookies. 
     
     
         3 . The system of  claim 1 , further including a plurality of transaction profiles for different ones of trader skill levels or trader groups. 
     
     
         4 . The system of  claim 1 , further comprising a plurality of transactional devices connected to the monitoring program, the plurality of transactional devices being adapted to execute transactions. 
     
     
         5 . The system of  claim 1 , wherein the historic data items comprises data items relating to at least one of a rate, volume, price, stock, periodic variances and seasonal variances. 
     
     
         6 . A method for detecting fraudulent activity, the method comprising:
 receiving from a first transactional device a plurality of transactional data items;   comparing the received transactional data items with a transaction profile in a monitoring device; and   generating an alert from the monitoring device on detection of an irregularity.   
     
     
         7 . The method of  claim 6 , further comprising updating the transaction profile with the received transactional data items over a period of time. 
     
     
         8 . A computer program product, tangibly embodied in a computer readable storage medium, for detecting fraudulent activity, the computer program product including instructions operable to cause a data processing apparatus to:
 receive from a first device a plurality of transactional data items;   compare the received transactional data items with a transaction profile in a monitoring device; and   generate an alert from the monitoring device on detection of an irregularity.