US Patent Issued to THE TORONTO-DOMINION BANK on Nov. 25 for "System and method for optimization of fraud detection model" (Canadian Inventors)

ALEXANDRIA, Va., Nov. 25 -- United States Patent no. 12,481,997, issued on Nov. 25, was assigned to THE TORONTO-DOMINION BANK (Toronto).

"System and method for optimization of fraud detection model" was invented by Steven Thomas Hobbs (Toronto) and Yifan Wang (North York, Canada).

According to the abstract* released by the U.S. Patent & Trademark Office: "There is provided a computing system for optimizing a plurality of fraud detection strategies used to generate a corresponding set of potentially fraudulent transactions. The system determines an overall fraud value such as an average fraud value for each transaction based on pre-defined factors and identifies a particular strategy having a highest average fraud value for its fraudulent ...