System and method for providing recovery for victims of check fraud
First Claim
1. A method for providing recovery for victims of check fraud, comprising the steps of:
- establishing a Check Fraud Protection service provider to receive subscriptions for a check fraud protection service;
said Check Fraud Protection service provider receiving a subscription for said check fraud protection service, said subscription identifying a checking account and a sequence of numbered checks to be covered by said check fraud protection service;
said Check Fraud Protection service provider receiving from the subscriber a notification of an occurrence of check fraud against a check within the range of numbers of the checks in such sequence of numbered checks;
said Check Fraud Protection service provider receiving from the subscriber a power of attorney to pursue a claim for recovery for such check fraud; and
said Check Fraud Protection service provider reimbursing to the subscriber the amount of money paid from the subscriber'"'"'s checking account and fees arising from the check fraud.
25 Assignments
0 Petitions
Accused Products
Abstract
A method for a consumer or business to protect against loss associated with specified forms of check fraud. Upon purchasing checks, a consumer or business can subscribe to a check fraud protection program, for an additional fee. A consumer or business may purchase Check Fraud Protection for an additional fee independent of purchasing checks. The subscription will enable the consumer or business to obtain reimbursement from the service provider for the consumer'"'"'s losses due to specified causes. The consumer or business reciprocally assigns any right of recovery from the consumer'"'"'s or business'"'"'s bank or financial institution to the service provider, which can then seek reimbursement from the bank, or financial institution and institute proceedings against the fraud perpetrator. Protection may be obtained for forged signatures, forged endorsements and altered check. A symbol to indicate such protection is also disclosed.
49 Citations
11 Claims
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1. A method for providing recovery for victims of check fraud, comprising the steps of:
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establishing a Check Fraud Protection service provider to receive subscriptions for a check fraud protection service;
said Check Fraud Protection service provider receiving a subscription for said check fraud protection service, said subscription identifying a checking account and a sequence of numbered checks to be covered by said check fraud protection service;
said Check Fraud Protection service provider receiving from the subscriber a notification of an occurrence of check fraud against a check within the range of numbers of the checks in such sequence of numbered checks;
said Check Fraud Protection service provider receiving from the subscriber a power of attorney to pursue a claim for recovery for such check fraud; and
said Check Fraud Protection service provider reimbursing to the subscriber the amount of money paid from the subscriber'"'"'s checking account and fees arising from the check fraud. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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Specification