18624826. IDENTIFYING FALSE POSITIVE GEOLOCATION-BASED FRAUD ALERTS simplified abstract (STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY)

IDENTIFYING FALSE POSITIVE GEOLOCATION-BASED FRAUD ALERTS

Organization Name

STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY

Inventor(s)

Timothy Kramme of Parker TX (US)

Elizabeth Flowers of Bloomington IL (US)

Reena Batra of Alpharetta GA (US)

Miriam Valero of Bloomington IL (US)

Puneit Dua of Bloomington IL (US)

Shanna L. Phillips of Bloomington IL (US)

Russell Ruestman of Minonk IL (US)

Bradley A. Craig of Normal IL (US)

IDENTIFYING FALSE POSITIVE GEOLOCATION-BASED FRAUD ALERTS - A simplified explanation of the abstract

This abstract first appeared for US patent application 18624826 titled 'IDENTIFYING FALSE POSITIVE GEOLOCATION-BASED FRAUD ALERTS

The abstract describes a method for using customer data to determine false positives in geolocation-based fraud alerts. By analyzing customer data from multiple sources, it can be determined if a customer is traveling, which may explain unexpected transaction locations. If the customer's location matches the transaction location, the fraud alert can be marked as a false positive to reduce unnecessary alerts to customers.

• Customer data is used to analyze geolocation-based fraud alerts.
• Multiple sources of customer data are obtained via radio frequency links.
• Traveling patterns of customers are identified from the data.
• Matching customer location to transaction location helps identify false positives.
• Preventing unnecessary alerts to customers reduces the number of false positives transmitted.

Potential Applications: - Fraud detection in financial transactions - Enhancing security measures for online purchases - Improving customer experience by reducing false alerts

Problems Solved: - Reducing the number of false positives in geolocation-based fraud alerts - Enhancing the accuracy of fraud detection systems

Benefits: - Increased efficiency in fraud detection processes - Improved customer satisfaction by minimizing unnecessary alerts - Enhanced security measures for financial transactions

Commercial Applications: Title: "Enhanced Fraud Detection System for Financial Transactions" This technology can be utilized by banks, e-commerce platforms, and other financial institutions to improve fraud detection processes and enhance customer security.

Questions about the technology: 1. How does this method improve the accuracy of fraud detection in geolocation-based alerts? 2. What are the potential implications of reducing false positives in fraud alerts for customers and businesses?

Original Abstract Submitted

In a computer-implemented method of using customer data to determine that geolocation-based fraud alerts are false positives, it may be determined that an electronic fraud alert is a geolocation-based alert generated based upon an unexpected or abnormal transaction location. In response, customer data may be obtained from two or more sources via radio frequency links. It may then be determined that the customer data from the sources indicates that a customer is traveling. In response, it may be determined that a customer location indicated by the customer data corresponds to the transaction location. In response to determining that the customer location corresponds to the transaction location, the electronic fraud alert may be marked as a false positive, and the electronic fraud alert may be prevented from being transmitted to a mobile device of the customer, in order to reduce an amount of false positives that are transmitted to customers.