Methods and systems for negotiable-instrument fraud prevention

Details Methods and systems for negotiable-instrument fraud prevention Methods and systems for negotiable-instrument fraud prevention

2006-07-04

2006-07-04

Trammell, James (Department: 3621)

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

Business processing using cryptography

Secure transaction

C705S065000, C705S067000, C705S075000, C705S078000, C713S150000, C713S155000, C713S156000, C713S157000

Reexamination Certificate

active

07072868

ABSTRACT:
An authentication value is provided in a magnetic-ink field of a negotiable instrument. The authentication value is derived from application of an encryption algorithm defined by a secure key. The authentication value may be used to authenticate the instrument through reapplication of the encryption algorithm and comparing the result with the authentication value. The instrument is authenticated if there is a match between the two.

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