The present application provides a fraud detection and risk assessment method, a system, a device, and a computer readable storage medium. Said method comprises the following steps: acquiring original data of a client user; using a data processing algorithm to extract characteristic data from the original data; inputting the characteristic data into a pre-trained machine learning model matching the characteristic data, generating a model output result, and uploading same onto a server; and outputting a fraud detection and risk assessment result using a risk control decision engine in conjunction with the model output result, historical data associated with the client user, and third party data. By using the present application, the computing capability of a client device can be fully utilized, reducing the computing pressure on the server. As the client does not need to upload the original data to the server, the present application can also reduce the data transmission pressure on the client and the server and reduce the risk of leakage of the user's private data and security information.