Check alteration detection system and method

Details Check alteration detection system and method Check alteration detection system and method

1996-01-18

1999-03-30

Poinvil, Frantzy

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

382137, G06F15700, G06K 900

Patent

active

058901418

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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Gundlach et al., "AT&T Easilink Services Provides Telex Connection for AS/400", Business Wire (San Francisco, CA, US) s1 p1, Jan. 28, 1991, Dialog File 635, Acc. No. 0248072.
"How banks tackle the tricks of the trade. (Preventing bank fraud)"?, Euromoney, p. 90(2), Nov. 1996, Dialog file 75, Accession No. 00108289.
Taylor, "Check Fraud: Preventive Measures for Businesses", Journal of Cash Management v12n1 pp. 34-38 Jan./Feb. 1992, Dialog file 15, Accession No. 00598332.
1992 ANSI Meeting Minutes document entitled "Meeting Minutes Fraud Prevention Document," Helene Kontonis-Chair, Sep. 30, 1992.

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