Check authentication system utilizing payee information
First Claim
1. In combination in a system for determining whether payee information on a check has been improperly modified after the original preparation of the check comprising:
- a first computer means for receiving and storing payee information for printing on a check;
means for converting said printed payee information to an encrypted first digitized value for processing in a digital computer;
a second computer means for receiving information about said check, including scanning means to convert a significant portion of the printed payee information that characterizes the printed payee information to a second digitized value; and
said second computer means further comprising a comparison routine for determining whether the printed payee information on said check has been changed.
2 Assignments
0 Petitions
Accused Products
Abstract
A system and method for detecting and thus preventing check fraud utilizing a digital computer with image capture and interpretation systems. The system converts the payee information, issue date and the MICR line information (account number, check number and dollar amount) to a check digit which is then placed into the MICR line of a check, printed on its face or transmitted via the paid issuance file to the drawee bank. The drawee bank, upon presentment utilizes a transformation algorithm to convert the printed payee information and issue date on the check into a numerical value that is combined with MICR line information and a check digit is calculated based upon pre-agreed logic. This unique data processing system quickly confirms properly presented checks while effectively precludes payee and other alterations in a cost effective manner.
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Citations
20 Claims
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1. In combination in a system for determining whether payee information on a check has been improperly modified after the original preparation of the check comprising:
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a first computer means for receiving and storing payee information for printing on a check; means for converting said printed payee information to an encrypted first digitized value for processing in a digital computer; a second computer means for receiving information about said check, including scanning means to convert a significant portion of the printed payee information that characterizes the printed payee information to a second digitized value; and said second computer means further comprising a comparison routine for determining whether the printed payee information on said check has been changed. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A banking fraud prevention process using a digital computer and utilized to prevent the submission for payment of checks having the designated payee information altered, comprising the steps of:
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transforming the payee information into a numerical value as an encoded payee identifier via a predetermined but not publicly known algorithm; receiving said payee identifier; receiving a presented check having a payee'"'"'s information printed thereon; converting a significant portion of the printed payee information that characterizes the printed payee information of said presented check to digital value via said predetermined algorithm; and comparing said converted printed payee information with said coded value on said check to determine whether a match exists. - View Dependent Claims (8, 9, 10, 11, 12)
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13. In combination in a system for confirming check accuracy and preventing altered checks from being honored;
- said system comprising;
a. a first computer means for generating checks corresponding to accounts and payment obligations wherein each check has printed payee information; b. means for calculating an encrypted numeric value corresponding to a significant portion of the printed payee information that characterizes payee information and for identifying a transformation algorithm used for encryption; c. means for conveying said numeric value and the identified transformation algorithm to one or more drawee banks; and d. means for printing said checks for distribution to the payees. - View Dependent Claims (14, 15)
- said system comprising;
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16. In combination in a data processing system for the detection of altered checks as presented at a drawee bank for disbursement, said system comprising:
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a first computer means for printing a plurality of individual checks wherein said checks include payee information on the check face; said first computer means further comprising data processing means for encrypting a significant portion of the printed payee information that characterizes all of said payee information to form a first digitized value; and a second computer means for processing checks submitted for payment, including means for receiving said first digitized value and scanning means for generating a second digitized value corresponding to said selected payee information; said second computer means further comprising means for comparing said first and second digitized values to discern whether said values match. - View Dependent Claims (17, 18, 19, 20)
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Specification