WO2006022563A2 - A method enabling financial institutions to prevent unauthorised monetary transactions - Google Patents

A method enabling financial institutions to prevent unauthorised monetary transactions Download PDF

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Publication number
WO2006022563A2
WO2006022563A2 PCT/PL2004/000073 PL2004000073W WO2006022563A2 WO 2006022563 A2 WO2006022563 A2 WO 2006022563A2 PL 2004000073 W PL2004000073 W PL 2004000073W WO 2006022563 A2 WO2006022563 A2 WO 2006022563A2
Authority
WO
WIPO (PCT)
Prior art keywords
financial institution
monetary transactions
transactions
financial institutions
financial
Prior art date
Application number
PCT/PL2004/000073
Other languages
French (fr)
Inventor
Adrian Mazur
Original Assignee
Gomobile Sp. Z.O.O.
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Gomobile Sp. Z.O.O. filed Critical Gomobile Sp. Z.O.O.
Publication of WO2006022563A2 publication Critical patent/WO2006022563A2/en

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Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/04—Payment circuits

Definitions

  • the topic of the present invention is a method of preventing unauthorised monetary transactions by a financial institution.
  • the method according to the present invention is characterised in that certain types of transactions are blocked, which transaction are determined by the financial institution and the client.
  • the hold on a particular type of financial transaction is lifted for a period precisely determined by the financial institution and client, and is lifted upon notification from the client, of a pre-determined type agreed upon by the parties.
  • the notification should also identify the sender.
  • the notification is sent via a cellular telephony network or other communications network and may be in the form of text, graphics, multimedia or data transmission.
  • the hold is lifted for a short period of time, allowing the financial transaction to proceed.
  • the bank lifts the hold. During this time, the bank card is activated, which enables the cash withdrawal with this card. The bank reactivates the hold after an agreed upon period of time. If the account holder does not manage to carry out the transaction during the hold suspension, he must send the notification again.

Landscapes

  • Business, Economics & Management (AREA)
  • Accounting & Taxation (AREA)
  • Strategic Management (AREA)
  • Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • General Physics & Mathematics (AREA)
  • Engineering & Computer Science (AREA)
  • Theoretical Computer Science (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Description

A method enabling financial institutions to prevent unauthorised monetary transactions
The topic of the present invention is a method of preventing unauthorised monetary transactions by a financial institution.
Security measures preventing unauthorised transactions applied by banks are not effective in all instances, leading to losses for depositors / clients. Fraud occurs both in cash and cashless transactions. The chief cause of abuse is the loss of personal identification, ABM card or cheque. Considerable losses may be incurred when the owner becomes aware of the loss of a document required for performing monetary transactions after an extended period of time. The depositor of monies may insure himself against unauthorised access to the deposit, but this incurs additional costs.
The method according to the present invention is characterised in that certain types of transactions are blocked, which transaction are determined by the financial institution and the client. The hold on a particular type of financial transaction is lifted for a period precisely determined by the financial institution and client, and is lifted upon notification from the client, of a pre-determined type agreed upon by the parties. Furthermore, the notification should also identify the sender. Preferentially, the notification is sent via a cellular telephony network or other communications network and may be in the form of text, graphics, multimedia or data transmission. The hold is lifted for a short period of time, allowing the financial transaction to proceed.
The method according to the present invention is described in more detail via the following example of a cash withdrawal using an ABM card.
Upon depositing monies in a financial institution, the holder of said financial means agrees in a bipartite contract that among other operations cash withdrawals from bank machines are to be blocked. The hold will be lifted temporarily, i.e. for 10 minutes, upon reception of an SMS message sent from the depositor's cellular telephone. The notice will have coded content, for example "WGl".
Following the reception of such a message from the account holder the bank lifts the hold. During this time, the bank card is activated, which enables the cash withdrawal with this card. The bank reactivates the hold after an agreed upon period of time. If the account holder does not manage to carry out the transaction during the hold suspension, he must send the notification again.

Claims

Patent Claims
1. A method of preventing unauthorised monetary transactions by a financial institution, characterized in that an account holder and his financial institution agree on holds to be placed on certain financial transactions, where the holds are lifted for a limited period of time, previously determined by the account holder and financial institution upon the reception of notification of an agreed type which also identifies the sender, as well as indicating the type of financial transaction.
2. A method according to Claim 1, characterized in that the notice to the financial institution is sent via a cellular telephony network or other communications network.
3. A method according to Claim 1, characterized in that the notice is in the form of text, graphics, multimedia or data transmission.
PCT/PL2004/000073 2004-08-26 2004-09-17 A method enabling financial institutions to prevent unauthorised monetary transactions WO2006022563A2 (en)

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
PLP.369753 2004-08-26
PL369753A PL369753A1 (en) 2004-08-26 2004-08-26 Method for the protection against illegal payment made by the financial institution

Publications (1)

Publication Number Publication Date
WO2006022563A2 true WO2006022563A2 (en) 2006-03-02

Family

ID=34959022

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/PL2004/000073 WO2006022563A2 (en) 2004-08-26 2004-09-17 A method enabling financial institutions to prevent unauthorised monetary transactions

Country Status (2)

Country Link
PL (1) PL369753A1 (en)
WO (1) WO2006022563A2 (en)

Cited By (2)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
DE102012202621A1 (en) 2012-02-21 2013-08-22 Wacker Chemie Ag Process for filling a reactor with a catalyst
US9112082B2 (en) 2009-07-23 2015-08-18 Danmarks Tekniske Universitet Electrically driven single photon source

Cited By (2)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US9112082B2 (en) 2009-07-23 2015-08-18 Danmarks Tekniske Universitet Electrically driven single photon source
DE102012202621A1 (en) 2012-02-21 2013-08-22 Wacker Chemie Ag Process for filling a reactor with a catalyst

Also Published As

Publication number Publication date
PL369753A1 (en) 2006-03-06

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