FINANCIAL TRANSACTIONS SYSTEMS AND METHODS
First Claim
1. A fraud prevention system for identifying potentially an improper online financial transaction received from a customer for an online merchant, the system comprising a prevention module configured for:
- receiving a request to transfer funds between a customer account and an online merchant;
automatically detecting an Internet protocol address issued to the computing device that generated the request to transfer funds when the request is received;
applying one or more improper transaction filters to the request, the one or more filters being used to determine whether the Internet protocol address has been masked or tampered with, marking the request as potentially improper; and
in response to the request being marked as potentially improper, storing information associated with the online financial transaction in an improper transaction database.
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Accused Products
Abstract
Various embodiments of the invention provide a more secure financial transaction system for e-commerce sectors that (1) more securely processes payment transactions, (2) helps to protect merchants and banks against fraudulent transactions, money laundering, and underage gambling, and (3) helps to limit other abuses in areas of e-commerce that are perceived to pose special risks, such as Internet gaming, travel, and consumer purchasing of electronic goods. To accomplish the above goals, various embodiments of the financial transaction system (1) establish operating and transaction processing protocols for merchants, Internet payment service providers, acquiring banks, and card schemes and (2) provide automated systems for monitoring and securely processing payment and financial transactions.
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Citations
19 Claims
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1. A fraud prevention system for identifying potentially an improper online financial transaction received from a customer for an online merchant, the system comprising a prevention module configured for:
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receiving a request to transfer funds between a customer account and an online merchant; automatically detecting an Internet protocol address issued to the computing device that generated the request to transfer funds when the request is received; applying one or more improper transaction filters to the request, the one or more filters being used to determine whether the Internet protocol address has been masked or tampered with, marking the request as potentially improper; and in response to the request being marked as potentially improper, storing information associated with the online financial transaction in an improper transaction database. - View Dependent Claims (2, 17, 18, 19)
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3. A fraud prevention system for identifying potentially an improper online financial transaction received from a customer for an online merchant, the system comprising a prevention module configured for:
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receiving a request to transfer funds between a customer account and an online merchant; automatically detecting an Internet protocol address issued to the computing device that generated the request to transfer funds when the request is received; applying one or more improper transaction filters to the request, the one or more filters being used to determine whether the Internet protocol address has been masked or tampered with, marking the request as potentially improper; and in response to the request being marked as potentially improper, preventing the requested transfer of funds.
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4. A method for identifying potentially an improper online financial transaction received from a customer for an online merchant, the method comprising the steps of:
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receiving a request to transfer funds between a customer account and an online merchant; automatically detecting an Internet protocol address issued to the computing device that generated the request to transfer funds when the request is received; applying one or more improper transaction filters to the request, the one or more filters being used to determine whether the Internet protocol address has been masked or tampered with; marking the request as potentially improper; and in response to the request being marked as potentially improper, preventing the requested transfer of funds. - View Dependent Claims (5, 6)
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7. A system for processing a financial transaction conducted with an online merchant, the system comprising:
a payment service provider module configured for; receiving a request to conduct a financial transaction between a customer account and an online merchant, the request comprising a first location associated with the customer'"'"'s address and a unique identifier associated with a computing device that generated the request; in response to receiving the request, determining a second location of the computer device from the unique identifier; comparing the first location, the second location, and the location of the merchant with a list of locations that regulate financial transactions conducted with the online merchant; in response to the first location, the second location, or the location of the merchant matching a location on the list of locations, determining whether one or more regulatory authorities regulate financial transactions conducted with the online merchant in the first location, the second location, or the location of the online merchant; and in response to determining that the one or more regulatory authorities regulate financial transactions in the first location, the second location, or the location of the merchant, notifying one or more of the customer, the merchant, or a bank associated with an account of the customer associated with the financial transaction of a type of regulation to which the financial transaction is subject. - View Dependent Claims (8, 9, 10, 11, 12, 13, 14, 15)
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16. A system for processing a financial transaction with an online merchant, the system comprising:
a payment service provider module configured for; receiving a request to transfer funds from a customer account to an online merchant; in response to receiving the request to transfer funds, allocating at least a portion of the funds to be paid to the online merchant to an escrow account; and in response to allocating the portion of the funds to be paid to the online merchant to the escrow account, storing the allocated portion of funds in the escrow account for a lesser of a predetermined period of time or until a chargeback request or a refund request is received by the system and the online merchant is unable to fund the chargeback request or the refund request directly with funds not in the escrow account.
Specification