Prepaid card fraud and risk management

Abstract

A method of monitoring fraud associated with prepaid devices includes configuring fraud platform parameters which comprise one or more limits defined by one or more values, each limit associated with a particular platform parameter, one or more thresholds defined by one or more values, each threshold associated with a particular platform parameter, and one or more rules that define restrictions for certain prepaid device activities. The method further includes applying the fraud platform parameters to prepaid device production data and determining whether to issue the prepaid device depending on whether any parameters were triggered by the production data.

1 - 20 . (canceled) 
     
     
         21 . A method comprising:
 applying fraud parameters to information associated with a prepaid device, wherein the fraud parameters comprise rules, limits and thresholds;   determining whether any parameters were triggered by the information associated with the prepaid device;   confirming that the information associated with the prepaid device that triggered any parameters is fraudulent;   updating a database of confirmed fraudulent information by adding the information associated with the prepaid device that was confirmed as fraudulent; and   searching prepaid production data for other device holders or buyers that may have used the information associated with the prepaid device that was confirmed as fraudulent.   
     
     
         22 . The method of  claim 21  wherein the limits are defined by one or more values and each limit is associated with a particular fraud parameter. 
     
     
         23 . The method of  claim 21  wherein the thresholds are defined by one or more values, each threshold associated with a particular platform parameter. 
     
     
         24 . The method of  claim 23  wherein the one or more prepaid device limits are associated with the one or more prepaid device thresholds and wherein the one or more prepaid device thresholds is set below the associated one or more prepaid device limit. 
     
     
         25 . The method of  claim 21  wherein the searching prepaid production data occurs on a periodic basis. 
     
     
         26 . A system comprising:
 a processing engine configured to apply fraud parameters to information associated with a prepaid device, wherein the fraud parameters comprise rules, limits and thresholds, determine whether any parameters were triggered by the information associated with the prepaid device, confirm that the information associated with the prepaid device that triggered any parameters is fraudulent, update a database of confirmed fraudulent information by adding the information associated with the prepaid device that was confirmed as fraudulent, and search prepaid production data for other device holders or buyers that may have used the information associated with the prepaid device that was confirmed as fraudulent; and   one or more databases coupled with the processing engine.   
     
     
         27 . A computer comprising a processing engine configured to
 configure fraud platform parameters, the parameters further comprising:
 one or more prepaid device limits defined by one or more values, each limit associated with a particular platform parameter; 
 one or more prepaid device thresholds defined by one or more values, each threshold associated with a particular platform parameter, wherein the one or more prepaid device limits are associated with the one or more prepaid device thresholds and wherein the one or more prepaid device threshold is set below the associated one or more prepaid device limit; 
 one or more rules that define restrictions for certain prepaid device activities; 
   apply the fraud platform parameters to prepaid device production data wherein the prepaid device production data comprises prepaid device holder information and prepaid device buyer information;   determine whether to issue the prepaid device depending on whether any parameters were triggered by the prepaid device production data;   validate the prepaid device production data against an internal database or an external database; and   confirm cases of fraud associated with prepaid devices based on triggered parameters and validated prepaid device production data.   
     
     
         28 . The computer of  claim 27 , wherein the one or more values associated with the one or more limits are configurable. 
     
     
         29 . The method of  claim 27 , wherein the one or more values associated with the one or more thresholds are configurable. 
     
     
         30 . The method of  claim 27 , wherein the prepaid device production data further comprises prepaid device loading information or prepaid device transactional information. 
     
     
         31 . A computer comprising a processing engine configured to
 enter enrollment and funding information associated with a prepaid device into a prepaid device processing system;   upload a platform of fraud parameters, the parameters further comprising limits, thresholds and rules designed to trigger potential prepaid device fraud cases into the processing system;   run the enrollment and transactional information associated with the prepaid device against the fraud rules;   verify any information associated with the prepaid device that triggered one or more fraud rules;   using configured rules to determine whether a fraud case is created for the prepaid device; and   manage the fraud case in a fraud queue through disposition.   
     
     
         32 . The computer of  claim 31 , wherein a graphical user interface is provided to facilitate the steps associated with managing fraud associated with the prepaid device. 
     
     
         33 . The computer of  claim 31 , wherein the limits and thresholds each comprise at least one value. 
     
     
         34 . The method of  claim 33 , wherein the at least one value is configurable. 
     
     
         35 . The method of  claim 31 , wherein verifying information comprises validating against a third party database. 
     
     
         36 . The method of  claim 31 , wherein verifying information comprises validating the information against a database of confirmed fraud cases. 
     
     
         37 . The method of  claim 31 , wherein determining whether a fraud case is created comprises applying a scoring model comprising a method to detect, identify and take action on any information that triggered one or more fraud rules. 
     
     
         38 . A computer comprising a processing engine configured to
 identify a potential fraud case based on information associated with a prepaid device, wherein the potential fraud case is triggered by application of a set of fraud parameter rules to enrollment and funding information associated with the prepaid device;   verify the information associated with the prepaid device against one or more databases to confirm whether the information associated with the prepaid device is fraudulent; and   update a database of confirmed fraudulent information by adding the confirmed fraudulent information associated with the prepaid device to the database.   
     
     
         39 . The computer of  claim 38 , wherein the information associated with the prepaid device is enrollment information or load information. 
     
     
         40 . The computer of  claim 38 , wherein the processing engine is further configured to run one or more preexisting prepaid devices against the updated database.