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System and method for providing a card transaction authorization fraud warning

  • US 6,254,000 B1
  • Filed: 11/13/1998
  • Issued: 07/03/2001
  • Est. Priority Date: 11/13/1998
  • Status: Expired due to Term
First Claim
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1. A system for notifying an issuing bank of an increased risk of card fraud, comprising:

  • a terminal for obtaining and transmitting transaction data corresponding to a particular transaction;

    the terminal including a card reader for obtaining card identifying information relating to a card tendered in connection with the particular transaction;

    a transaction processor for receiving the transaction data from the terminal and for transmitting an authorization decision to the terminal;

    a monitoring means for monitoring the authorization decision, determining an actual security code, and comparing the actual security code to a transaction security code; and

    the monitoring means further operating to generate a risk alarm, in response to a mismatch between the actual security code and the transaction security code when the authorization decision is a transaction approval.

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