SYSTEM AND METHOD FOR GUARDING AGAINST FRAUDULENT DIRECT DEPOSIT ENROLLMENTS IN AN ISSUER-EFFECTUATED ENROLLMENT SYSTEM

摘要

Systems and methods disclosed herein provide improved security against fraudulent direct deposit enrollments in an issuer-effectuated direct deposit enrollment system. By providing visibility across multiple account products and issuers, the system is able to detect fraudulent enrollments and create negative lists that may be shared among, and utilized by, multiple issuers.

主权项

1. A method of detecting fraudulent direct deposit enrollments, the method comprising:
receiving and storing direct deposit enrollment request data for a plurality of account holders on behalf of multiple account issuers; pre-screening accountholders based on receiving and storing personal data regarding the enrolling accountholder and verifying said data against public record information; pre-screening beneficiaries based on receiving and storing personal data regarding the beneficiary and verifying said data against public record information; determining whether the account holder is eligible for the requested deposit; analyzing the stored data to determine whether the enrollment data matches identified fraudulent enrollment patterns; analyzing the stored data to determine whether prior blocked benefit enrollment requests exist for the requesting account holder; blocking suspected fraudulent enrollments and storing additional data indicative of the blocked enrollment and the account holder; communicating to the account issuer the blocking of a direct deposit enrollment; enabling the account issuer to screen actual direct deposit data received associated with blocked accounts, account holders and beneficiaries; and enabling the account issuer to screen actual direct deposit data received that is inconsistent with data obtained via the direct deposit enrollment process.