Patent ID: 7527195

Claim:
A risk management system for providing risk data to an entity engaged in a remote transaction with a consumer, the system comprising: an authorization denial system including: (i) an authorization denial system interface configured to receive a transaction data set having a plurality of data fields from the entity; and (ii) a denial rule set having a plurality of rules and configured to output the risk data directed to the transaction based upon the result of applying at least one rule of the plurality of rules to at least one data field of the plurality of data fields in the transaction data set; wherein the authorization denial system interface transmits the resulting risk data to the entity; and a risk analysis system including: (i) a risk analysis interface configured to receive the transaction data set from at least one of the authorization denial system and the entity; and (ii) a risk analysis rule set having a plurality of rules and configured to output the risk data directed to the transaction based upon the result of applying at least one rule of the plurality of rules to at least one data field of the plurality of data fields in the transaction data set; wherein the risk analysis system interface transmits the resulting risk data to at least one of the entity and the authorization denial system; wherein the risk analysis system is further configured to: (i) establish a new fraud rule; and (ii) transmit the new fraud rule to the authorization denial system; wherein the new fraud rule is added to the denial rule set for use in subsequent transaction analysis.