Secure transmission of money transfers

Details Secure transmission of money transfers Secure transmission of money transfers

2008-12-19

2011-10-04

Weisberger, Richard C (Department: 3693)

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

Automated electrical financial or business practice or...

Finance

C705S037000, C705S044000

Reexamination Certificate

active

08032435

ABSTRACT:
The invention relates to a method and a device for enabling a validated money transfer between a sending and a receiving person via a sending and a receiving financial institution, where a request to a validation agent for validation of a money transfer replaces normal time consuming cross border security checks. The validation agent, being unaffiliated with the sending financial institution and the receiving financial institution, administers a data base comprising validated transfer agreements, which agreements specifies at least the identity of a sending person and of a receiving person. A validation of a transfer is executed at the validation agent by comparing current transfer data with information specified in the validated transfer agreements.

REFERENCES:
patent: WO 96/33476 (1996-10-01), None
Money in electronic commerce: Digital cash, electronic fund transfer, and Ecash; Panurach, Patiwat Communications of the ACM; v39n6; pp. 45-50; Jun. 1996.

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