Methods and apparatus for payment transfer fraud detection

Abstract

This application relates to apparatus and methods for identifying fraudulent payment transfers. In some examples, a computing device determines payment transfer initiation features, and payment transfer reception features, based on previous payment transfer data. The computing device may train a machine learning fraud detection model with the payment transfer initiation features, and may train a machine learning fraud detection model with the payment transfer reception features. Once trained, the computing device may employ the machine learning fraud detection models to identify fraudulent payment transfers. For example, the computing device may determine whether a payment transfer is fraudulent when the payment transfer is initiated. Assuming the payment transfer is allowed, the computing device may determine whether the payment transfer is fraudulent when the payment is being received. In some examples, the computing device prevents completion of the purchase transaction if the payment transfer is determined to be fraudulent.