ROYAL BANK OF CANADA (20240338439). SYSTEM AND METHOD FOR SIGNAL PROCESSING FOR CYBER SECURITY simplified abstract
Contents
SYSTEM AND METHOD FOR SIGNAL PROCESSING FOR CYBER SECURITY
Organization Name
Inventor(s)
Jahanrajkar Singh of Toronto (CA)
SYSTEM AND METHOD FOR SIGNAL PROCESSING FOR CYBER SECURITY - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240338439 titled 'SYSTEM AND METHOD FOR SIGNAL PROCESSING FOR CYBER SECURITY
The abstract describes a system and method for signal processing for cyber fraud detection. The method involves receiving a trigger signal for fraud detection, determining a risk signal processing model based on the trigger signal, computing a risk signal for each risk component, processing the risk signals in real time to generate an aggregated risk signal, and generating a fraud or cyber security alert signal.
- Receiving trigger signals for fraud detection
- Determining a risk signal processing model with multiple risk components
- Computing risk signals for each risk component
- Processing risk signals in real time to generate an aggregated risk signal
- Generating fraud or cyber security alert signals
Potential Applications: - Financial institutions for detecting fraudulent activities - E-commerce platforms for identifying suspicious transactions - Government agencies for cybersecurity purposes
Problems Solved: - Enhances fraud detection capabilities - Improves cybersecurity measures - Enables real-time monitoring of risk factors
Benefits: - Minimizes financial losses due to fraud - Enhances overall security measures - Provides timely alerts for potential threats
Commercial Applications: Title: Real-time Fraud Detection System for Financial Institutions This technology can be utilized by banks, credit card companies, and other financial institutions to enhance their fraud detection capabilities, improve cybersecurity measures, and protect their customers' assets.
Questions about the technology: 1. How does this system differentiate between normal and fraudulent activities? 2. What measures are in place to ensure the real-time processing of risk signals?
Original Abstract Submitted
system and method for signal processing for cyber fraud detection are disclosed. the method may include: receiving a trigger signal for fraud detection, the trigger signal comprising an event indicator and entity data associated with an entity profile stored in a database; determining, based on the trigger signal, a risk signal processing model comprising a plurality of risk components, each risk component associated with a respective weighing factor; computing, based on the risk signal processing model, a respective risk signal for each of the plurality of risk components; processing the respective risk signal for each of the plurality of risk components in real time or near real time to generate an aggregated risk signal; and generating, based on the aggregated risk signal, a fraud or cyber security alert signal.
