SYSTEM AND METHOD FOR RISK AND FRAUD MITIGATION FOR MERCHANT ON-BOARDING

摘要

A system and method is provided for detecting fraud during merchant on-boarding. A transaction processing system receives signup information from a merchant requesting to create a new merchant profile. The signup information may include input data specifying a bank account of the merchant and metadata associated with a device used to submit the input data. The system then compares the signup information with merchant information stored in a merchant database and selectively identifies the new merchant profile as fraudulent based, at least in part, on the comparison. For some embodiments, the system may identify the new merchant profile as fraudulent if the bank account specified by the input data matches bank account information associated with an existing merchant profile or a known fraudulent profile.

主权项

1. A method for configuring a merchant profile for commercial transactions, the method being implemented by one or more processors and comprising:
receiving signup information from a merchant requesting to create a new merchant profile, wherein the signup information includes (i) input data specifying a bank account and (ii) metadata associated with a device used to submit the input data; comparing the signup information with merchant information stored in a merchant database, including comparing the bank account specified by the input data with bank account information associated with existing merchant profiles or known fraudulent profiles; and selectively identifying the new merchant profile as fraudulent based, at least in part, on the comparison.