Patent ID: 8589298

Claim:
A method for multi-stage filtering for fraud detection, the method comprising: receiving financial transaction data associated with two or more financial transactions, each of the two or more financial transactions being related to one or more customer financial accounts; executing, via a computing device processor, a first stage fraud filtration, the first stage fraud filtration evaluating one or more first stage attributes of the two or more financial transactions, wherein evaluating the one or more first stage attributes of the two or more financial transactions comprises: determining at least one financial transaction of the two or more financial transactions as being associated with a low risk or no risk transaction; determining at least one financial transaction of the two or more financial transactions as being associated with a risk greater than a low risk transaction; processing the at least one financial transaction associated with the low risk or no risk transaction based on the first stage fraud filtration evaluation; executing a second stage fraud filtration for the at least one financial transaction associated with risk greater than a low risk or no risk transaction that was not processed based on the first stage fraud filtration evaluation, the second stage fraud filtration being configured to evaluate one or more second stage attributes, the one or more second stage attributes comprising velocity data associated with a rate at which a plurality of financial transactions occur.