Systems and methods for aggregated database for cross-issuer fraud detection system

Abstract

A method for establishing fraud detection system for payment card transactions associated with an individual or a household by analyzing the online or in-store transaction against fraud detection individual profile. Generating the individual profile involves retrieving transaction data and identifying information associated with transaction authorization request, searching for another payment card using the identifying information, aggregating payment cards transaction data, generating profile data for an individual according to identifying information, transaction data, and any reported fraudulent activities under the payment cards, analyzing the transaction against the profile data to determine whether the transaction is a fraudulent activity, and providing a notification to financial institutions reporting any fraudulent activities. The fraud detection system for a household analyzes an online or in-store transaction against a household profile that associates all payment cards in consumer's household to create a complete picture of the buying behavior of the consumer household.

1 - 20 . (canceled) 
     
     
         21 . A method for fraud detection for an individual, the method comprising:
 retrieving, at an acquirer processor, transaction data and identifying information associated with an authorization request for a payment transaction using a first payment card;   searching, by the acquirer processor using the identifying information at a transaction database, for a second payment card associated with the identifying information;   aggregating, by the acquirer processor, transaction data associated with the first and second payment cards from the transaction database;   retrieving, from a financial institution, reported fraudulent activities pertaining to the first and second payment cards;   generating, profile data for the individual according to at least one of the identifying information associated with the authorization request, personally identifiable information (PII) of the individual, the aggregated transaction data associated with the first and second payment cards, and reported fraudulent activities on the first and second payment cards;   generating, at the acquirer processor, a multidimensional score for the aggregated transaction data associated with the first and second payment cards;   analyzing, by the acquirer processor, the payment transaction against the profile data;   declining, by the acquirer processor, as a result of determining that the payment transaction is a fraudulent activity, the authorization request for the payment transaction; and   sending, over a computer network, a notification to a web server associated with the financial institution reporting the fraudulent activity.   
     
     
         22 . The method of  claim 21 , further comprising:
 determining, by the acquirer processor, whether an individual fraud detection profile associated with the retrieved identifying information exists in a profile database; and   storing, at a transaction database, as a result of determining that the individual's fraud detection profile does not exist, transaction data with other transaction data associated with the first payment card.   
     
     
         23 . The method of  claim 21 , the second payment card associated with the identifying information not being previously linked to the first payment card. 
     
     
         24 . The method of  claim 21 , further comprising:
 generating, by the acquirer processor, a unique hash value for the generated profile data associated with the individual.   
     
     
         25 . The method of  claim 21 , wherein the individual's profile data includes at least one of spending irregularities of the individual, and fraud analysis according to the reported fraudulent activities associated with the first and second payment cards. 
     
     
         26 . The method of  claim 25 , wherein the spending irregularities of the individual are calculated based on at least one of spending habits of the individual, a geographic area, and a type of payment card of the individual. 
     
     
         27 . The method of  claim 21 , further comprising, flagging, by the acquirer processor, any fraudulent suspicion pertaining to the at least one online or in-store transaction to the at least one financial institution. 
     
     
         28 . The method of  claim 21 , wherein the personally identifiable information (PII) comprises at least one of name, physical address, and email address. 
     
     
         29 . The method of  claim 21 , the transaction data comprises of at least one of merchant's ID, transaction location and terminal information, source IP address, data and time, device information, transaction amount of the payment transaction, and the payment card information. 
     
     
         30 . The method of  claim 21 , wherein the first and second payment cards are debit or credit cards issued by the at least one financial institution. 
     
     
         31 . The method of  claim 24 , wherein the searching whether the individual fraud detection profile associated with the retrieved identifying information associated with the authorization request exists includes searching for a unique hash value associated with an individual fraud detection profile for the retrieved identifying information associated with the authorization request in the profile database. 
     
     
         32 . A method for fraud detection for a household, the method comprising:
 retrieving, at an acquirer processor, transaction data and identifying information associated with an authorization request for a payment transaction using a first payment card;   searching and determining, by the acquirer processor, payment cards associated with members of the household using retrieved identifying information associated with the authorization request in a transaction database;   aggregating, by the acquirer processor, transaction data associated with the payment cards from the transaction database;   retrieving, from at least one financial institution, reported fraudulent activities pertaining to the payment cards;   generating, profile data for each member of the household according to the at least one of the identifying information associated with the authorization request, personally identifiable information (PII) of each member of the household, the aggregated transaction data associated with the payment cards, and reported fraudulent activities on the payment cards;   generating, at the acquirer processor, a multidimensional score for the aggregated transaction data associated with the payment cards;   analyzing, using the acquirer processor, the payment transaction against the profile data associated with each member of the household;   declining, by the acquirer processor, as a result of determining that the payment transaction is a fraudulent activity, the authorization request for the payment transaction; and   sending, over a computer network, a notification to the financial institution reporting the fraudulent activity.   
     
     
         33 . The method of  claim 32 , the payment cards not being previously linked. 
     
     
         34 . The method of  claim 32 , further comprising, generating the household profile presenting spending irregularities of each member of the household, and suspicious activities associated with the at least one payment cards linked to the household profile. 
     
     
         35 . The method of  claim 34 , wherein the spending irregularities of each member of the household are calculated based on at least one of spending habits of each member of the household, a geographic area of each member of the household, and a type of payment cards of each member of the household. 
     
     
         36 . A system for wallet based fraud detection for an individual, the system comprising:
 a memory having processor-readable instructions stored therein; and   a processor configured to access the memory and execute the processor-readable instructions, which when executed by the processor configures the processor to perform a plurality of functions, including functions to:   retrieve transaction data and identifying information associated with an authorization request for a payment transaction using a first payment card;   search for a second payment card associated with the individual using the identifying information associated with the authorization request at a transaction database;   aggregate transaction data associated with the first and second payment cards from a transaction database;   retrieve, from at least one financial institution, reported fraudulent activities pertaining to the first and second payment cards;   generate, profile data for an individual according to the at least one of the identifying information associated with the authorization request, personally identifiable information (PII) of the individual, the aggregated transaction data associated with the first and second payment cards, and reported fraudulent activities on the first and second payment cards;   generate a multidimensional score for the aggregated transaction data associated with the first and second payment cards;   analyze the payment transaction against the profile data;   decline, as a result of determining that the payment transaction is a fraudulent activity, the authorization request for the payment transaction; and   send, over a computer network, a notification to a web server associated with the financial institution reporting the fraudulent activity.   
     
     
         37 . The system of  claim 36 , the second payment card not being previously linked to the first payment card. 
     
     
         38 . The system of  claim 36 , wherein the analysis of the payment transaction against the profile data is according to spending irregularities of the individual, and suspicious activities associated with the first and second payment cards. 
     
     
         39 . The system of  claim 38 , wherein the spending irregularities of the individual are calculated based on at least one of spending habits of the individual, a geographic area of the individual, and a type of payment card of the individual. 
     
     
         40 . The system of  claim 36 , further comprising a function to send the multidimensional score to the web server associated with the financial institution.