Anti-Crimes Online Transaction System

• US 20100250390A1
• Filed: 03/17/2010
• Published: 09/30/2010
• Est. Priority Date: 11/15/2006
• Status: Active Grant

• Current Assignee: Alexander Song, Catherine Lew, Victoria Song, Yuh-Shen Song
• Original Assignee: Alexander Song, Catherine Lew, Victoria Song, Yuh-Shen Song
• Inventors: LEW, Catherine, SONG, Victoria, SONG, Alexander, SONG, Yuh-Shen
• Granted Patent: US 9,600,837 B2
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 50/265 Personal security, identity or safety

Abstract

Anti-money laundering, anti-terrorist financing and other anti-crimes measures are enforced in compliance with the Bank Secrecy Act and the USA PATRIOT Act in the USA or equivalent laws in other countries, and crimes in financial transaction activities such as online banking, trading, money services, shopping, payment, etc. are reduced. Embedded identification information is read from a machine-readable official government issued identification document such as a passport, driver'"'"'s license, etc., and such information is sent to a financial institution for approval and for anti-money laundering, anti-terrorist financing and other anti-crimes purposes.

Claims

1. A computerized method for conducting online transactions consistent with enhanced national security while reducing potential for fraudulent activities, comprising:

receiving embedded identification information from a machine-readable official government issued identification document of a person who is conducting a transaction with an organization, the embedded identification information being sent electronically from the organization to a financial institution which has issued a financial account to the person;

receiving transaction details and financial account identification information, the transaction details and the financial account identification information being sent electronically from the organization to the financial institution;

using the financial account identification information to identify a financial account issued by the financial institution;

verifying whether the embedded identification information corresponds to personal identification information of the issued financial account stored at the financial institution; and

informing the organization of an approval of the transaction and processing the transaction when the verification is successful and a status of the issued financial account permits the transaction.

2. The method of claim 1 in which the organization comprises an organization with online operations.

3. The method of claim 1 in which the organization comprises at least one of a merchant, a money services business, and a financial institution.

4. The method of claim 1 in which the transaction comprises at least one of shopping, purchasing, payment, claiming payment, sending funds, receiving funds, transferring funds, account opening, account closing, account resetting, account configuring, account status changing, giving instruction, balancing checkbook, information query, identity verification, money services transaction and financial transaction.

5. The method of claim 1 in which the receiving embedded information comprises receiving encrypted embedded identification information.

6. A computer system for conducting online transactions consistent with enhanced national security while reducing potential for fraudulent activities, comprising:

a computer processor and a memory device coupled to a network;

a database stored on the memory device adapted to store associated with a financial account issued by a financial institution at least identification information of the financial account holder;

a communication module that electronically receives from an organization embedded identification information from a machine-readable official government issued identification document of a person who is conducting a transaction with the organization, transaction details, and financial account identification information of the person;

a decision module using the financial account identification information of the person to identify the financial account issued by the financial institution and verifying whether the embedded identification information corresponds to the identification information of the financial account holder stored in the database; and

a notifying module that informs the organization of an approval of the transaction when the verification is successful and a status of the financial account permits the transaction.

7. The computer system of claim 6, in which the organization comprises an organization with online operations.

8. The computer system of claim 6, in which the organization comprises at least one of a merchant, a money services business, and a financial institution.

9. The computer system of claim 6, in which the transaction comprises at least one of shopping, purchasing, payment, claiming payment, sending funds, receiving funds, transferring funds, account opening, account closing, account resetting, account configuring, account status changing, giving instruction, balancing checkbook, information query, identity verification, money services transaction and financial transaction.

10. The computer system of claim 6, in which the received embedded identification information comprises encrypted embedded identification information.