Fraud protection for card transactions
US5311594A · kind A · utility
Assignee
Inventor
Key dates
| Filing date | Mar 26, 1993 |
| Grant date | May 10, 1994 |
| Priority date | — |
| Expiry date | Mar 26, 2013 |
Classification
- Technology area (CPC Y)Emerging Cross-Sectional Technologies
- CPC primaryY10S379/903
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The problems of fraud in card transactions can be reduced by, after requiring the person engaged in the card transaction to initially identify himself, such as by supplying a card number, a) requesting, the person to supply as authentication information either 1) a randomly selected piece of prestored information or 2) information derived from a randomly selected piece of prestored information; and b) completing the transaction only if the authentication information requested is correctly supplied. The authentication information requested is described in terms of its nature, i.e., what it represents, so that one can not deduce from the request the correct response without knowing the selected prestored piece of information. Since the authentication information is randomly determined for each card transaction, a thief will rarely, if ever, be able to successfully complete a card transaction simply by supplying, in response to a request, the same piece of authentication information last supplied by the authorized person. Each authorized person already knows the particular pieces of information that are prestored for him, e.g., birthdate of spouse, year of school graduation, and mothe…
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.