Fraud prevention via beneficiary account validation
US11651372B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Apr 12, 2019 |
| Grant date | May 16, 2023 |
| Priority date | — |
| Expiry date | Oct 11, 2040 |
Classification
- Technology area (CPC H)Electricity
- CPC primaryH04L67/561
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Disclosed are methods, systems, and devices for preventing payments to unintended beneficiaries. A service provider system may receive, from a user device of a user, a payment request to transfer funds from a source account to an identified destination account. A beneficiary system may be identified, and a validation request (e.g., an API call) may be transmitted to the beneficiary system. The service provider system may receive from the beneficiary system a transmission indicating whether the destination account is associated with the recipient identified in the payment request. The user may be alerted if the account number for the destination account is not validated.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.