Fraud.net secures a US patent for advanced fraud detection, combining neural and graph networks to revolutionize anomaly detection in digital transactions.
NEW YORK, NY, UNITED STATES, December 17, 2024 /EINPresswire.com/ -- Fraud.net, a leader in AI-powered fraud prevention and risk management solutions, proudly announces the issuance of its latest patent, "Methods and Systems for Detecting Spurious Data Patterns" (U.S. Patent No. 11,921,697). This innovation underscores Fraud.net's commitment to advancing fraud detection technologies and delivering unparalleled security to its clients.The patented technology introduces a sophisticated method for identifying anomalous data by converting multi-dimensional data into a nodes-and-edges graph representation. By applying a graph convolution process, the system generates a transformed graph that accurately assesses the probability of data anomalies. This approach enables organizations to detect fraudulent activities with greater precision and speed, reducing false positives and enhancing overall security measures.
"Securing this patent is a significant milestone for Fraud.net," said R. Whitney Anderson, CEO of Fraud.net. "It reflects our dedication to developing cutting-edge solutions that address the evolving challenges of fraud detection. Our clients can now benefit from a more robust and efficient system, ensuring their operations remain secure and trustworthy."
Fraud.net's platform leverages this patented technology to offer clients:
- Real-Time Fraud Detection: Immediate identification of suspicious activities, allowing for swift response and mitigation.
- Enhanced Accuracy: Advanced algorithms reduce false positives, ensuring legitimate transactions proceed without unnecessary interruptions.
- Scalability: The system adapts to various industries and scales with organizational growth, providing consistent protection across all operations.
This patent complements Fraud.net's suite of AI-driven solutions, including transaction monitoring, identity verification, and anti-money laundering (AML) compliance. By integrating this technology, clients gain a comprehensive defense against fraud, tailored to their specific needs and industry requirements.
For more information about Fraud.net's patented technology and how it can enhance your organization's fraud detection capabilities, please visit www.fraud.net or contact our sales team at sales@fraud.net.
About Fraud.net:
Fraud.net operates an end-to-end digital risk management and revenue enhancement ecosystem built for digital financial and commerce companies worldwide. The cloud-born platform helps enterprises detect and prevent digital fraud, money laundering, and other financial crimes and automate customer onboarding and compliance workflows. The platform leverages no-code/low-code architecture, natively integrated data and tools from 50+ leading risk management vendors, and custom-tailored AI models, all to enable companies to make safer, smarter, and more profitable decisions.
Krupa Malawade
Fraud.net
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