US Patent Issued to MasterCard International on Aug. 18 for "Systems and methods for modeling and classification of fraudulent transactions" (Missouri Inventors)

ALEXANDRIA, Va., Aug. 18 -- United States Patent no. 12,711,507, issued on Aug. 18, was assigned to MasterCard International Inc. (Purchase, N.Y.).

"Systems and methods for modeling and classification of fraudulent transactions" was invented by Joshua A. Allbright (Valley Park, Mo.) and Christopher John Merz (Wildwood, Mo.).

According to the abstract* released by the U.S. Patent & Trademark Office: "Described herein are systems and methods for classifying incoming payment transactions. A fraud classification computing system includes a historical transaction database for storing a plurality of transaction records associated with a respective plurality of historical transactions. The fraud classification computing system receives a current...