Location based bank card fraud prevention using push-notification technology
Publication Date: 2015-Dec-13
The IP.com Prior Art Database
The invention aims to prevent "Card Duplication Fraud", which is one major kind of bank card fraud. Bank verify whether the transcation is or not fraud by matching the location of transaction and that of the card holders' phone. Bank obtains the location of card holder's phone by pushing message to the phone and parse the IP address, which is called as push-notification.
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Location based bank card fraud prevention using push
Location based bank card fraud prevention using push-
In China, 3.2 billion bank cards are in use. Bank card fraud becomes a serious problem. There are many kinds of bank card fraud. One major kind of fraud is "Card Duplication". Some fraudsters have attached fraudulent card stripe readers to publicly accessible ATMs, to gain unauthorized access to the contents of the magnetic stripe, as well as hidden cameras to illegally record users' authorisation codes. The data recorded by the cameras and fraudulent card stripe readers are subsequently used to produce duplicate cards that could then be used to make transaction. Similarly, when card holders make consumption in untrusted market, same risks arise.
When such fraud happens, the bank is responsible for it. However, it is difficult for the bank to distinguish whether the transaction is made by the owner or the fraud. Our solution is designed to protect card holders from such kind of fraud.
The idea we proposed is to predict a fraud transaction based on match of the location where the transaction happened with the location of phone that card holder registered. It is needed for card holders to install the mobile apps, which is supplied by the bank or the push service provider. Then, bank server can send push notification to the customers' mobile phone and get the response, which contains IP information. By IP information, bank can determine the phone's location. We regard the location of phone as the card holder's location. When the customer make transaction via ATMs or card-readers, bank server can get the location of the transaction, according to registered addresses of ATMs. To process transaction, card readers need to connect to bank server on the Internet. Thus, card readers have IP address, which indicates the geolocation of card readers. Therefore, we could get both the location of card holder and that of transaction. If the two locations not match, then Bank regards this transaction as fraud one.
We call Location A as the location of the bank card when transaction occurs and Location B as the location of the bank card owner 's phone. When the above kind of Bank Card fraud happened, Location A was not the same as Location B in general. Hence, by matching Location A and Location B, Bank can distinguish whether the transaction is fraud. If they are not matching, then Bank regard this transaction as fraud one.
We firstly introduce the solution of obtaining location B. Firstly, IP address implies the geolocation of electronic devices. Specifically speaking, when electronic device accesses the Internet, it get a IP address. On the Internet, one geolocation approach is to identify the subject party's IP address, then determine what country (including down to the city and post/ZIP_code level), organization, or user the IP address has been assigned to, and finally, determine that party's location. Secondly, we can obtain the IP addr...