Patent Document ID: 20160071105
Application ID: 14479718
Patent Status: 0

Claim One:
1. A computer-implemented method for accessing a fraud risk for an online transaction utilizing social media data, said method implemented using a fraud monitoring device in communication with a memory, said method comprising: receiving, by the fraud monitoring device, a request to assess the fraud risk of an online transaction initiated by a cardholder using a payment card, wherein the fraud risk request includes a cardholder identifier; accessing a social media account associated with the cardholder based at least in part on the cardholder identifier, wherein the social media account includes a circle of friends, wherein each friend in the circle of friends is associated with a social media account; determining one or more historical payment transactions associated with at least one friend in the circle of friends; calculating, by the fraud monitoring device, a social risk score for the cardholder based in part on the determined one or more historical payment transactions; and transmitting, by the fraud monitoring device, a consolidated risk assessment of the online transaction based in part on the social risk score.