SMARTCARD BASED SECURE TRANSACTION SYSTEMS AND METHODS

• US 20100094754A1
• Filed: 10/13/2008
• Published: 04/15/2010
• Est. Priority Date: 10/13/2008
• Status: Abandoned Application

• Current Assignee: Global Financial Passport LLC
• Original Assignee: Global Financial Passport LLC
• Inventors: Bertran, Javier, Bertran, Jeronimo
• Application Number:
  US12/250,276
• Publication Number:
  US 20100094754A1
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/40145 Biometric identity checks
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Systems and methods for authorizing financial transactions are described. A request for execution of the financial transaction from a requesting party includes at least one biometric signature of the requesting party and the request is authorized based on identification of the biometric signature in a repository of signatures and a history of prior transactions executed on behalf of the requesting party. The repository may include signatures stored in encrypted form on a smartcard.

Claims

1. A method for authorizing a financial transaction, comprising the steps of:

receiving a request for execution of the financial transaction from a requesting party, the request including at least one biometric signature of the requesting party;

identifying the requesting party based on the at least one biometric signature;

searching for predefined patterns of transactions in a history of prior transactions executed on behalf of the requesting party; and

optionally authorizing the financial transaction based on the presence or absence of certain predefined patterns.

2. The method of claim 1 wherein one or more of the at least one biometric signature is encoded on a smartcard.

3. The method of claim 2 wherein the one or more biometric signature encoded on the smartcard is encrypted.

4. The method of claim 1 wherein the step of identifying includes:

obtaining a biometric sample from the requesting party; and

comparing the biometric sample with the at least one biometric signature, the at least one biometric signature including a biometric template encoded on a smartcard.

5. The method of claim 4 wherein the step of identifying includes decrypting the biometric template using a secret code associated with the requesting party.

6. The method of claim 1 wherein the certain predefined patterns comprise suspicious patterns and the financial transaction is authorized based on the absence of the suspicious patterns.

7. The method of claim 6 wherein the suspicious patterns include a plurality of similar transactions performed at multiple locations.

8. The method of claim 7 wherein the financial transaction and the plurality of similar transactions include a currency exchange.

9. The method of claim 7 wherein the plurality of similar transactions occurred within a predefined time prior to the receiving the request.

10. The method of claim 7 wherein the plurality of similar transactions caused transfer of an aggregate sum of money exceeding a predetermined threshold.

11. The method of claim 6 wherein the suspicious patterns include a plurality of similar transactions directed to a common receiving party.

12. The method of claim 11 wherein the common receiving party received funds in excess of a predetermined threshold amount.

13. The method of claim 12 wherein the suspicious patterns include one or more similar transactions directed to the common receiving party by each of a plurality of different parties.

14. The method of claim 11 wherein the common receiving party and the requesting party are located in different jurisdictions.

15. The method of claim 10 wherein the certain predefined patterns include patterns predefined by a government agency.

16. The method of claim 1 wherein the financial transaction is authorized based on the presence of a pattern of previously authorized similar transactions.

17. A system for authorizing financial transactions, comprising:

a service point configured to receive a biometric signature from a party requesting performance of a financial transaction;

a repository of biometric reference signatures corresponding to a plurality of users of the system;

a history of transactions identifying previous transactions associated with the plurality of users; and

an authorization system configured to identify the party based on the biometric signature and the biometric reference signatures,

wherein the authorization system conditions authorization of the financial transaction upon a successful identification of the party and upon patterns of previous transactions performed by the party.

18. The system of claim 17 wherein the biometric signature includes a template encrypted and encoded on a smartcard.

19. The system of claim 17 wherein the biometric signature is provided by the requesting party and the biometric reference signatures include an encrypted reference signature stored on a smartcard.

20. The system of claim 17 wherein the reference signature stored on the smartcard can be decrypted using a secret code corresponding to an authorized user of the smartcard.