Method for Financial Fraud Prevention Through User-Determined Regulations

摘要

A credit card fraud-prevention system which allows user accounts to customize a personal portfolio to monitor their individual transactions. The system allows each user account to pick a plurality of fraud-prevention criteria to monitor a payment card(s). The overall process begins with receiving payment transaction data with a remote server. A matching account is then identified for the payment transaction data by searching through a card identification information of each user account. Once the matching account is identified, the remote server then compares the payment transaction data to each fraud-prevention criteria in order to identify a met criterion. If the met criterion is not identified, then the payment transaction data is verified and sent to financial entities. If the met criterion is identified, then a predefined response of the met criterion is executed. This includes notifying the matching account about the possible fraudulent activity and requesting verification for the transaction.

主权项

1. A method for financial fraud prevention through user-determined regulations comprises the steps of:
(A) providing a plurality of user accounts, wherein each of the users accounts is managed by at least one remote server and is associated with at least one card identification (ID) information; (B) providing each of the user account with a plurality of fraud-prevention criteria, wherein each of the fraud-prevention criteria is associated to a predefined response; (C) receiving payment transaction data with the remote server; (D) comparing the payment transaction data to the card ID information for each of the user accounts with the remote server in order to identify a matching account from the plurality of user accounts; (E) comparing the payment transaction data against each of the fraud-prevention criteria of the matching account with the remote server in order to identify at least one met criterion from the plurality of fraud-prevention criteria of the matching account; (F) verifying the payment transaction data with the remote server, if the met criterion is not identified during step (E); and (G) executing the predefined response associated to the met criterion with the remote server, if the met criterion is identified during step (E).