11. The computer-implemented method of claim 1 , in which some or all of the values in the historical profile for an entity are computed using feedback of transaction records that involve that entity and that have been delayed until the actual outcome for that transaction is known.
1. A computer-implemented method comprising: defining a first subset of entities belonging to one or more entity classes; constructing at least one historical profile for each entity in the subset of entities based on a set of possible outcomes of transaction behavior of each entity in the first subset of entities; based on the historical profiles, selecting a second subset of entities having transaction behavior associated with a transaction, the transaction behavior being predictive of at least one targeted outcome from a set of possible outcomes; redefining the first subset of entities with the second subset of entities; and monitoring the historical profiles for the entities to find entities for which the behavior is so significantly different than normal as to indicate a high probability that the entity is involved in a fraud process that is to be reported to humans.