Patent Document ID: 8548137
Application ID: 13228943
Patent Flag: 1

Claim One:
1. A computer-implemented method for dynamically updating a model comprising: accessing, by a computing system, a model that includes variables for a type of transaction, each of the variables being associated with a distribution of values; receiving, by the computing system, a value for each of the variables while monitoring transactions of the type; adding, by the computing system and for each of the variables, the received value to the distribution of values in order to generate an updated distribution of values; determining, by the computing system and for each of the variables, a threshold value based on identifying a percentage of the values of the updated distribution of values that are indicative of fraud; determining, by the computing system and for each of the variables, a deviation of the received value from the determined threshold value; and using, by the computing system and for each of the variables, the deviation of the received value from the determined threshold in order to determine a score that indicates a probability of fraud for a transaction of the type.