Restricting Transfer of Funds from Electronic Financial Account

a technology of electronic financial accounts and restrictions, applied in the direction of payment protocols, instruments, messaging/mailboxes/announcements, etc., can solve the problems of significant fraud-related costs for society as a whole, the incentive for unscrupulous parties to circumvent these systems, and the increase in the susceptibility of the average consumer to identity theft and the related harms incurred

Inactive Publication Date: 2014-10-30
MOBIBUCKS
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

This increase has been accompanied by a commensurate increase in the susceptibility of the average consumer to identity theft and the related harms incurred by the unauthorized access of such electronic accounts.
Electronic accounts associated with financial institutions and payment services are of particular concern as unauthorized access to these accounts jeopardizes a consumer's economic well-being and creates significant fraud-related costs for society as a whole.
However, the incentives for unscrupulous parties to circumvent these systems are immense, and the financial and electronic security industries need to continually innovate to stay a step ahead.

Method used

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  • Restricting Transfer of Funds from Electronic Financial Account
  • Restricting Transfer of Funds from Electronic Financial Account
  • Restricting Transfer of Funds from Electronic Financial Account

Examples

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Embodiment Construction

[0013]The present disclosure relates to electronic accounts. In particular, the present disclosure relates to modifying the functionality of and access to electronic accounts. In the following description, for purposes of explanation, numerous examples and specific details are set forth in order to provide a thorough understanding of the present disclosure. However, it will be evident to one skilled in the art that the present disclosure may include some or all of the features in these examples alone or in combination with other features described below, and may further include modifications and equivalents of the features and concepts described herein that are generally known to those with experience in the field of electronic account access and security.

[0014]In this document, various methods, processes and procedures are detailed. Although particular steps may be described in a certain sequence, such sequence is mainly for convenience and clarity. A particular step may be repeate...

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Abstract

This disclosure includes methods and systems for restricting a transfer of funds from an electronic financial account after a lock feature has been engaged in response to an account lock request. In some embodiments, the method or system restricts a first transfer of funds, but allows a second transfer of funds while the lock feature is engaged. In some embodiments, one of a plurality of lock features is engaged based on a text string contained in the account lock request.

Description

CROSS-REFERENCE TO RELATED APPLICATION[0001]This application is a continuation of U.S. patent application Ser. No. 14 / 022,041, filed Sep. 9, 2013; which claims the benefit of provisional Application No. 61 / 816,631, filed Apr. 26, 2013, both of which are incorporated herein by reference in their entirety.BACKGROUND[0002]The number of electronic accounts utilized by the average person has increased considerably in the recent past. This increase has been accompanied by a commensurate increase in the susceptibility of the average consumer to identity theft and the related harms incurred by the unauthorized access of such electronic accounts. Electronic accounts associated with financial institutions and payment services are of particular concern as unauthorized access to these accounts jeopardizes a consumer's economic well-being and creates significant fraud-related costs for society as a whole.[0003]Recently, methods have been introduced to allow users greater degrees of security for ...

Claims

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Application Information

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Patent Type & Authority Applications(United States)
IPC IPC(8): G06Q20/32G06Q20/40
CPCG06Q40/02G06Q20/3223G06Q20/40G06F21/35G06F21/43G06F2221/2105G06Q20/382G06F2221/2147H04W4/14H04W12/08G06Q20/325G06Q20/3255G06F2221/2141G06Q20/4016
Inventor FERNANDES, JORGE M.
Owner MOBIBUCKS
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