Systems and methods for automated fraud detection and analytics using aggregated payment vehicles and devices

Abstract

Systems and methods are disclosed for automated fraud detection and analytics using aggregated payment vehicles and devices, at the individual and/or household level. One method includes receiving an authorization request for a payment transaction originating at a merchant, using a first payment vehicle; receiving device information of a first device used in the payment transaction; retrieving transaction data and identifying information associated with the authorization request before the authorization request is routed to a financial institution; searching and determining payment vehicles and devices associated with the individual using the retrieved identifying information; aggregating transaction data associated with the payment vehicles and devices from the transaction database; retrieving reported fraudulent activities pertaining to the payment vehicles and devices; and generating a profile data for the individual according to the identifying information associated with the authorization request, personally identifiable information (PII), the aggregated transaction data, and reported fraudulent activities.

1 - 20 . (canceled) 
     
     
         21 . A method, implemented by a computing system using a memory and a processor, for automated fraud detection and analytics using aggregated payment vehicles and devices, the method comprising:
 receiving, by the computing system over a computer network, an authorization request for an electronic transaction originating at a merchant;   receiving, by the computing system over a computer network, device information of a first device used in the electronic transaction originating at the merchant;   retrieving, at the computing system from a database of transaction data, transaction data and identifying information associated with one or more of the authorization request or the first device;   determining, by the computing system, that an individual fraud detection profile associated with the retrieved identifying information exists in a profile database;   automatically analyzing, using a trained aggregated fraud scoring system, the electronic transaction against the individual fraud detection profile;   automatically determining, using the trained aggregated fraud scoring system, whether the electronic transaction is a fraudulent activity based on the analyzing the electronic transaction against the individual fraud detection profile; and   sending, over the computer network, as a result of determining that the payment transaction is a fraudulent activity, a notification to a financial institution for the fraudulent activity, along with the authorization request.   
     
     
         22 . The method of  claim 21 , wherein the authorization request sent to the financial institution is sent with a fraudulent activity analysis report. 
     
     
         23 . The method of  claim 21 , wherein the electronic transaction data comprises at least one of merchant's ID, transaction location and terminal information, source IP address, data and time, device information, transaction amount of a purchase, and a payment vehicle associated with the electronic transaction information. 
     
     
         24 . The method of  claim 23 , further comprising, generating, at the computing system, a multidimensional score for the electronic transaction data. 
     
     
         25 . The method of  claim 23 , wherein the individual fraud detection profile data includes at least one of an individual's spending irregularities and fraud analysis according to the sent fraudulent activities associated with the payment vehicle and the electronic transaction. 
     
     
         26 . The method of  claim 25 , wherein the individual's spending irregularities are calculated based on at least one of the individual's spending habits, geographic area, and a type of payment vehicle used in the electronic transaction. 
     
     
         27 . The method of  claim 21 , further comprising, identifying, by the computing system, any fraudulent suspicion pertaining to the electronic transaction to the financial institution. 
     
     
         28 . The method of  claim 21 , wherein device information comprises, one or more of: an identifier of the device, passwords, user names and accounts, IP addresses, browser settings, browser history, cookies, font preferences, language preferences, and typing data. 
     
     
         29 . The method of  claim 23 , wherein the payment vehicle is a debit or credit card issued by a financial institution 
     
     
         30 . The method of  claim 21 , wherein the determining 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. 
     
     
         31 . A system for automated fraud detection and analytics using aggregated payment vehicles and devices, 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:   receive an authorization request for an electronic transaction originating at a merchant;   receive device information of a first device used in the electronic transaction originating at the merchant;   retrieve transaction data and identifying information associated with one or more of the authorization request or the first device;   determine that an individual fraud detection profile associated with the retrieved identifying information exists in a profile database;   automatically analyze the electronic transaction against the individual fraud detection profile;   automatically determine whether the electronic transaction is a fraudulent activity based on the analyzing the electronic transaction against the individual fraud detection profile; and   send, as a result of determining that the payment transaction is a fraudulent activity, a notification to a financial institution for the fraudulent activity, along with the authorization request.   
     
     
         32 . The system of  claim 31 , wherein the authorization request sent to the financial institution is sent with a fraudulent activity analysis report. 
     
     
         33 . The system of  claim 31 , wherein the electronic transaction data comprises at least one of merchant's ID, transaction location and terminal information, source IP address, data and time, device information, transaction amount of a purchase, and a payment vehicle associated with the electronic transaction information. 
     
     
         34 . The system of  claim 33 , wherein the processor is further configured to:
 generate a multidimensional score for the electronic transaction data.   
     
     
         35 . The system of  claim 31 , wherein device information comprises, one or more of: an identifier of the device, passwords, user names and accounts, IP addresses, browser settings, browser history, cookies, font preferences, language preferences, and typing data. 
     
     
         36 . The system of  claim 31 , wherein the individual fraud detection profile data includes at least one of an individual's spending irregularities and fraud analysis according to the sent fraudulent activities associated with the payment vehicle and the electronic transaction. 
     
     
         37 . A non-transitory computer readable medium for use on a computer system containing computer-executable programming instructions for automated fraud detection and analytics using aggregated payment vehicles and devices, the method comprising performing, by the computer system, operations including:
 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:   receive an authorization request for an electronic transaction originating at a merchant;   receive device information of a first device used in the electronic transaction originating at the merchant;   retrieve transaction data and identifying information associated with one or more of the authorization request or the first device;   determine that an individual fraud detection profile associated with the retrieved identifying information exists in a profile database;   automatically analyze the electronic transaction against the individual fraud detection profile;   automatically determine whether the electronic transaction is a fraudulent activity based on the analyzing the electronic transaction against the individual fraud detection profile; and   send as a result of determining that the payment transaction is a fraudulent activity, a notification to a financial institution for the fraudulent activity, along with the authorization request.   
     
     
         38 . The non-transitory computer readable medium of  claim 37 , wherein the authorization request sent to the financial institution is sent with a fraudulent activity analysis report. 
     
     
         39 . The non-transitory computer readable medium of  claim 37 , wherein the electronic transaction data comprises at least one of merchant's ID, transaction location and terminal information, source IP address, data and time, device information, transaction amount of a purchase, and a payment vehicle associated with the electronic transaction information. 
     
     
         40 . The non-transitory computer readable medium of  claim 38 , wherein the determining 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.