US 12,271,904 B1
Systems and methods for assessing risk of fraud in an electronic transaction
Kelley A. Chamberlain, Huntersville, NC (US); David J. Dietrich, Charlotte, NC (US); Michael Knorr, Fairfield, CT (US); Robert L. Kosicki, Huntersville, NC (US); Valeria J. Gray-Lindsey, Charlotte, NC (US); Duane F. Lindquist, Glenview, IL (US); Michael Mangieri, San Francisco, CA (US); Maria V. Marmolejos, San Francisco, CA (US); Jacqueline A. Monteferrario, Franklin Lakes, NJ (US); Yonesy F. Nunez, Allentown, PA (US); and Leonard J. Valentino, Stamford, CT (US)
Assigned to Wells Fargo Bank, N.A., San Francisco, CA (US)
Filed by Wells Fargo Bank, N.A., San Francisco, CA (US)
Filed on Aug. 11, 2022, as Appl. No. 17/886,356.
Application 17/886,356 is a continuation of application No. 15/950,826, filed on Apr. 11, 2018, granted, now 11,416,863.
Int. Cl. G06Q 20/40 (2012.01); G06Q 40/08 (2012.01); H04W 4/02 (2018.01); H04W 4/12 (2009.01)
CPC G06Q 20/4016 (2013.01) [G06Q 20/4014 (2013.01); G06Q 40/08 (2013.01); H04W 4/02 (2013.01); H04W 4/12 (2013.01)] 20 Claims
OG exemplary drawing
 
1. A system comprising:
a processing circuit configured to:
collect at least first contact information of a beneficiary;
identify a risk associated with the beneficiary based in part on the first contact information and a geographical location verified by a user on a map of a graphical user interface of an interactive dashboard of an activated application facilitating an electronic payment or an electronic transfer of funds from the user to the beneficiary, wherein identifying the risk comprises determining the geographical location is associated with fraudulent activity;
automatically calculate a risk score for an electronic transaction based on the risk;
determine that the risk score exceeds a first threshold value and in response to the determination, causing a user device to display, via the activated application, a notification on the interactive dashboard of the user device associated with the electronic transaction, wherein the notification comprises one or more mitigation activities;
calculate a premium to purchase a protection product based on the risk score calculated according to the risk of the electronic transaction;
receive data from the user device, wherein the data comprises at least second contact information corresponding to the beneficiary;
access and retrieve, via the activated application, additional data from device memory of the user device, the additional data comprising call records or emails;
compare the first contact information and the second contact information with the additional data corresponding to the call records or emails, wherein comparing comprises analyzing the call records or the emails and determining that the user conducted at least one mitigation activity of the displayed mitigation activities;
in response to determining that the user conducted the at least one mitigation activity recalculate the risk score based on the at least one mitigation activity corresponding with the additional data comprising the call records or emails;
adjust the premium based on the recalculated risk score; and
display, via the interactive dashboard of the activated application, the recalculated risk score and the adjusted premium on the user device, wherein the interactive dashboard comprises the graphical user interface comprising (i) an edit option to edit the electronic payment or the electronic transfer of funds, (ii) the map corresponding with the geographical location of the fraudulent activity, and (iii) a plurality of factors corresponding to the recalculated risk score.