ITERATIVE PROCESSING OF TRANSACTION INFORMATION TO DETECT FRAUD

A fraud management system is configured to store rules for detecting fraud, receive a transaction from a merchant, process the transaction using a first subset of rules to generate a fraud score for the transaction, and output information regarding the fraud score to the merchant to assist the merchant in determining whether to accept, deny, or fulfill the transaction. The fraud management system is further configured to receive, after outputting the information regarding the fraud score to the merchant, additional information relating to the transaction, re-process the transaction using a second subset of rules to generate an update fraud score, and output information regarding the updated fraud score to the merchant to assist the merchant in determining whether to accept, deny, or fulfill the transaction.