http://www.technewsworld.com/story/31280.html
A problem I have run into recently is that when I get a large sum of money deposited into my account I will shortly after pay many bills or similar and quickly deplete it. Recently I have been getting phone calls asking me to verify purchases. At first I was annoyed by them because I knew what was going on. I had money, I had needs, and I went on spending sprees. To the credit card company though there is possible fraudulent activity.
TechNewsWorld reported that Fair Isaac Inc has implemented a neural network software that analyzes and develops trends that can flag accounts that are abnormal. 10 out of 12 months I make very small purchases of food, sometimes groceries, and the occasional online purchase of movies or whatnot, but 2 of those months I will spend up to $1000 in a matter of hours if not minutes. This sudden change is noticed by Visa and FICO and they call me as a value added service to verify I know what is going on.
Identity theft is one of the fastest growing crimes around the world. FICO has to determine legitimate request for credit and purchases, and determine what request are from unauthorized sources. Neural networks are best suited for this because, when programmed correctly, they learn from past data and can make decisions relative to current situations. When the computer can flag trends as abnormal then a human (if needed) can intervene and prevent losses for the company.
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