Fraud.net Secures Patent for Proprietary Anomaly Detection Methodology

FOR IMMEDIATE RELEASE

NEW YORK, NY – 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 book a meeting with one of our solutions consultants.

About Fraud.net:‍

Fraud.net delivers an AI-native platform for fraud prevention, AML compliance, and digital risk management. Trusted by financial institutions and digital commerce enterprises worldwide, our patented solution prevents fraud, money laundering, and financial crimes in real-time while automating customer screening, monitoring, and compliance workflows. Our platform leverages collective intelligence derived from billions of transactions and digital identities. With a no-code/low-code architecture that natively integrates data from 50+ leading providers, and advanced AI and rules-based decision engines, Fraud.net empowers businesses to make smarter, faster, and more profitable decisions.