Debit-based identity theft monitoring and prevention

• US 20060271456A1
• Filed: 05/26/2005
• Published: 11/30/2006
• Est. Priority Date: 05/26/2005
• Status: Active Grant

• Current Assignee: Fidelity Information Services, LLC (Fidelity National Information Services Incorporated)
• Original Assignee: Efunds Corporation (Fidelity National Information Services Incorporated)
• Inventors: Bjerke, Paul P., Romain, Martin R.
• Granted Patent: US 10,643,217 B2
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/3674 involving authentication
• CPC Class Codes: G06Q 20/42 Confirmation, e.g. check or permission by the legal debtor of payment
• CPC Class Codes: G06Q 20/425 using two different networks, one for transaction and one for security confirmation
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

Systems and methods of monitoring financial information of a consumer for fraudulent activity. One method can include receiving an account closure event from an event provider, determining if the account closure event is associated with financial information of the consumer, generating a notification, and providing the notification to the consumer. Another method can include receiving a returned check event from an event provider, determining if the returned check event is associated with financial information of the consumer, generating a notification, and providing the notification to the consumer.

Claims

1. A method of monitoring financial information of a consumer for fraudulent activity, the method comprising:

receiving an account closure event from an event provider;

determining if the account closure event is associated with financial information of the consumer;

generating a notification; and

providing the notification to the consumer.

2. The method of claim 1 wherein the notification includes an event notification if the account closure event is associated with financial information of the consumer.

3. The method of claim 2 wherein the event notification includes an event listing that includes at least one of an event type, an event date, and an event source.

4. The method of claim 2 wherein the event notification includes an instruction section that specifies how to generate a disagreement notification.

5. The method of claim 1 wherein the notification includes a no-activity notification if the account closure event is not associated with financial information of the consumer.

6. The method of claim 1 wherein the financial information includes debit information.

8. The method of claim 1 further comprising receiving a disagreement notification from the consumer if the consumer disagrees with the notification.

9. The method of claim 8 further comprising transmitting an identity theft notice upon receiving the disagreement notification.

10. The method of claim 1 wherein the event provider includes a financial institution.

11. The method of claim 1 further comprising receiving at least one of a new account inquiry event, a returned check event, a payment device order event, and a lost or stolen account information event.

12. The method of claim 1 further comprising receiving an account freeze information event.

13. The method of claim 1 further comprising receiving updated information from the consumer and storing the updated information.

14. The method of claim 1 further comprising storing the account closure event.

7. The method of claim I wherein providing the notification to the consumer includes electronically mailing the notification to the consumer.

15. A method of monitoring financial information of a consumer for fraudulent activity, the method comprising:

receiving a returned check event from an event provider;

determining if the returned check event is associated with financial information of the consumer;

generating a notification; and

providing the notification to the consumer.

16. The method of claim 15 wherein the notification includes an event notification if the returned check event is associated with financial information of the consumer.

17. The method of claim 16 wherein the event notification includes an event listing that includes at least one of an event type, an event date, and an event source.

18. The method of claim 16 wherein the event notification includes an instruction section that specifies how to generate a disagreement notification.

19. The method of claim 16 wherein the notification includes a no-activity notification if the returned check event is not associated with financial information of the consumer.

20. The method of claim 15 wherein the financial information includes debit information.

21. The method of claim 15 wherein providing the notification to the consumer includes electronically mailing the notification to the consumer.

22. The method of claim 15 further comprising receiving a disagreement notification from the consumer if the consumer disagrees with the notification.

23. The method of claim 22 further comprising transmitting an identity theft notice upon receiving the disagreement notification.

24. The method of claim 15 wherein the event provider includes a merchant.

25. The method of claim 15 further comprising receiving at least one of a new account inquiry event, an account closure event, a payment device order event, and a lost or stolen account information event.

26. The method of claim 15 further comprising receiving an account freeze information event.

27. The method of claim 15 further comprising receiving updated information and storing the updated information.

28. The method of claim 15 further comprising storing the returned check event.

29. A system for monitoring financial information of a plurality of consumers for fraudulent activity, the system comprising:

a consumer database configured to store information obtained from the plurality of consumers;

an event provider configured to transmit an account closure event; and

a monitoring system configured to receive the account closure event, to determine if the account closure event is associated with financial information of one of the plurality of consumers, to generate a notification, and to provide the notification to one of the plurality of consumers.

30. The system of claim 29 wherein the financial information includes debit information.

31. The system of claim 29 wherein the monitoring system is further configured to electronically mail the notification to one of the plurality of consumers.

32. The system of claim 29 wherein the monitoring system is further configured to receive a disagreement notification from one of the plurality of consumers.

33. The system of claim 32 wherein the monitoring service is further configured to transmit an identity theft notice upon receiving the disagreement notification.

34. The system of claim 29 wherein the event provider includes a financial institution.

35. The system of claim 29 wherein the monitoring system is further configured to receive at least one of a new account inquiry event, a returned check event, a payment device order event, and a lost or stolen account information event.

36. The system of claim 29 wherein the monitoring system is further configured to receive an account freeze information event.

37. The system of claim 29 wherein the monitoring system is further configured to receive updated information and to store the updated information in the consumer database.

38. The system of claim 29 wherein the monitoring system is further configured to store the account closure event.

39. A system for monitoring financial information for a plurality of consumers for fraudulent activity, the system comprising:

a consumer database configured to store information obtained from the plurality of consumers;

an event provider configured to transmit a returned check event;

a monitoring system configured to obtain the returned check event, to determine if the returned check event is associated with financial information of one of the plurality of consumers, to generate a notification, and to provide the notification to one of the plurality of consumers.

40. The system of claim 39 wherein the financial information includes debit information.

41. The system of claim 39 wherein the monitoring system is further configured to electronically mail the notification to one of the plurality of consumers.

42. The system of claim 39 wherein the monitoring system is further configured to receive a disagreement notification from one of the plurality of consumers.

43. The system of claim 42 wherein the monitoring service is further configured to transmit an identity theft notice upon receiving the disagreement notification.

44. The system of claim 39 wherein the event provider includes a merchant.

45. The system of claim 39 wherein the monitoring system is further configured to receive at least one of a new account inquiry event, an account closure event, a payment device order event, and a lost or stolen account information event.

46. The system of claim 39 wherein the monitoring system is further configured to receive an account freeze information event.

47. The system of claim 39 wherein the monitoring system is further configured to receive updated information and to store the updated information in the consumer database.

48. The system of claim 39 wherein the monitoring system is further configured to store the returned check event.

49. A monitoring system for monitoring financial information of a consumer for fraudulent activity, the monitoring system configured to receive an account closure event, to determine if the account closure event is associated with financial information of the consumer, to generate a notification, and to provide the notification to the consumer.

50. The monitoring system of claim 49 further configured to electronically mail the notification to the consumer.

51. The monitoring system of claim 49 further configured to receive a disagreement notification from the consumer.

52. The monitoring system of claim 51 further configured to transmit an identity theft notice upon receiving the disagreement notification.

53. The monitoring system of claim 49 further configured to generate a first key based on consumer information.

54. The monitoring system of claim 53 further configured to store the first key in a consumer database.

55. The monitoring system of claim 53 further configured to generate a second key based on the account closure event.

56. The monitoring system of claim 55 further configured to compare the second key to the first key in order to determine if the account closure event is associated with financial information of the consumer.

57. The monitoring system of claim 49 further configured to store the account closure event.

58. The monitoring system of claim 49 further configured to generate a debit report for the consumer.

59. A monitoring system for monitoring financial information of a consumer for fraudulent activity, the monitoring system configured to receive a returned check event, to determine if the returned check event is associated with financial information of the consumer, to generate a notification, and to provide the notification to the consumer.

60. The monitoring system of claim 59 further configured to electronically mail the notification to the consumer.

61. The monitoring system of claim 59 further configured to receive a disagreement notification from the consumer.

62. The monitoring system of claim 61 further configured to transmit an identity theft notice upon receiving the disagreement notification.

63. The monitoring system of claim 59 further configured to generate a first key based on the information.

64. The monitoring system of claim 63 further configured to store the first key in a consumer database.

65. The monitoring system of claim 63 further configured to generate a second key based on the returned check event.

66. The monitoring system of claim 65 further configured to compare the second key to the first key in order to determine if the returned check event is associated with financial information of the consumer.

67. The monitoring system of claim 59 further configured to store the returned check event.

68. The monitoring system of claim 59 further configured to generate a debit report for the consumer.

69. A method of monitoring financial information of a consumer for fraudulent activity, the method comprising:

providing first information to an identity authentication system;

using the first information to authenticate the consumer;

providing the first information to a monitoring system;

storing the first information in a consumer database;

receiving a plurality of events from an event provider;

determining if any of the plurality of events are associated with financial information of the consumer;

generating a notification; and

providing the notification to the consumer.

70. The method of claim 69 wherein receiving one or more events includes receiving at least one of a account closure event, a new account inquiry event, a returned check event, a payment device order event, an account freeze information event, and a lost or stolen account information event.

71. The method of claim 69 wherein the event provider includes at least one of a financial institution, a merchant, and a payment device provider.

72. The method of claim 69 wherein the first information includes contact information for the consumer.

73. The method of claim 69 wherein the first information includes an expiration date.

74. The method of claim 73 further comprising generating a renewal notification based on the expiration date and providing the renewal notification to the consumer.

75. The method of claim 69 further comprising providing second information to an identity management system.

76. The method of claim 75 further comprising providing program information to the consumer from the identity management system.

77. The method of claim 76 wherein the program information includes at least one of a username and password.

78. The method of claim 76 further comprising using the program information to provide the first information to the identity authentication system.

79. The method of claim 75 further comprising providing the second information to the monitoring system from the identity management system.

80. The method of claim 69 further comprising providing updated information to the monitoring system.

81. The method of claim 69 further comprising providing updated information to the identity authentication system and providing the updated information to the monitoring system from the identity authentication system.

82. The method of claim 69 further comprising establishing a contract with a vendor.

83. The method of claim 82 wherein the vendor includes a financial institution.

84. The method of claim 82 further comprising including customizations of the vendor in the notification.

85. The method of claim 82 further comprising providing updated information to the monitoring system from the vendor.

86. The method of claim 82 further comprising generating a report for the vendor.

87. The method of claim 82 further comprising generating a bill for the vendor.