Account Protection With One Sided Access
a one-sided access and account technology, applied in the field of account protection, can solve the problems of being susceptible to being intercepted by other parties, revealing an account number to another party more susceptible to fraud, and fraud may occur, and achieve the effect of reliable tracking of who conducted specific transactions
Inactive Publication Date: 2009-04-09
ARCOT SYSTEMS INC
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- Summary
- Abstract
- Description
- Claims
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AI Technical Summary
Benefits of technology
[0008]Many account numbers may be used to provide different subsets of operations to different parties and to allow for secure tracking of transactions to the parties performing them. The operations allowed by a particular account number may be controlled according to different characteristics. These include, but are not limited to, time; amount; number of uses; or location. For example, an account number may be provided that allows for withdrawals but only under a certain dollar amount; or during specified times; or at specified locations; or some combination of all of these. By providing different numbers to different parties, the account owner can also reliably track who conducted specific transactions.
Problems solved by technology
Additionally, when account numbers are revealed in transactions, they may be susceptible to being intercepted by other parties independent of the transaction.
This makes revealing an account number to another party more susceptible to fraud.
Also, even in face-to-face transactions, any time an account number is revealed to another party, fraud may occur.
The risk of these systems is that in current practice a single account number is used for complete access to the account.
Thus, if Party B reveals his one and only account number to Party A (in order to facilitate a deposit), Party B risks that Party A may also conduct unauthorized withdrawals.
Also, the use of only a single number for all transactions of all types provides no secure way to distinguish between those transactions.
Method used
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Embodiment Construction
[0017]FIG. 1 depicts a system 100 for protecting an account 102 according to one embodiment of the present invention. Account 102 is associated with an account number A and an account number B. While account number A and account number B are described, it will be understood that any number of account numbers may be used. When account number “A” is used, it will be recognized that account number A is a first account number and account number B is a second account number that is different from account number A. For example, account number A may be “12345” and account number B may be “2468”.
[0018]Account number A and account number B may be different but they are associated with the same account 102. Accordingly, when either account number A or account number B are used in a transaction, account 102 is used in processing the transaction. In one embodiment, account number A and account number B cannot be derived from each other. Thus, a user provides account number A to a party can be a...
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A first account number and a second account number are created for an account. The first and second account numbers are associated with the account and can be used for transactions with the account. A first subset of operations is associated with the first account number and a second subset of operations is associated with the second account number. A subset of operations includes operations that are restricted to a party that has access to the account number. Accordingly, the first party that has access to the first account number is restricted to the operations found in the first subset of operations when transacting with the account. Also, a second party that has access to the second account number is restricted to the second subset of operations when transacting with the account.
Description
CROSS-REFERENCES TO RELATED APPLICATIONS[0001]This application is a continuation and claims the benefit of co-pending, commonly assigned U.S. patent application Ser. No. 11 / 011,875, filed Dec. 13, 2004, entitled “Account Protection With One Sided Access,” now allowed, which is a non-provisional and claims the benefit of commonly assigned U.S. Provisional Patent Application No. 60 / 537,981, filed Jan. 20, 2004 entitled “Account Protection With One Sided Access,” the entire disclosure of each of which is incorporated herein by reference for all purposes.BACKGROUND OF THE INVENTION[0002]The present invention generally relates to account protection and more specifically to methods and apparatus for restricting access to an account using different account numbers associated with different subsets of operations.[0003]An account number is typically exchanged when a transaction between two parties is being performed. For example, an account holder may enter into a transaction with another pa...
Claims
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IPC IPC(8): G06Q40/00G06Q20/00H04K1/00
CPCG06Q20/04G06Q20/227G06Q40/12G06Q40/125G06Q20/40
InventorRENO, JAMES D.
OwnerARCOT SYSTEMS INC