Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
Self-calibrating outlier model and adaptive cascade model for fraud detection
A system and method for detecting fraud is presented. A self-calibrating outlier model is hosted by a computing system. The self-calibrating outlier model receives transaction data representing transactions, and is configured to calculate transaction-based variables, profiles and calibration parameters, and to produce a score based on the transaction data according to the transaction-based variables, profiles and calibration parameters. An adaptive cascade model is also hosted by the computing system, and is configured to generate a secondary score for the transaction data based on profile information from the variables and/or profiles calculated by the self-calibrating outlier model, and based on a comparison with labeled transactions from a human analyst of historical transaction data.
Fair Isaac Corporation
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Xiang Jehangir Scott M.
Li Athwal Zoldi