Electronic Money Security Modules for Fraud Protection
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Solution Overview
Problem
Existing systems fail to adequately protect electronic money transactions from fraud and malicious use, particularly during the generation and exchange of e-money, as they are vulnerable to social engineering attacks and malicious programs that can steal passwords or intervene in cryptocurrency transactions.
Innovation Solution
A method and system that includes scanning for software objects associated with electronic money, adjusting security modules to provide data security, and executing transactions using a wallet protection module, malware detection module, and traffic control module to detect and prevent malicious activities, ensuring secure storage, transfer, and network traffic monitoring.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional security measures are used for e-money transactions, then the system is simple to operate, but the system is vulnerable to fraud and malicious use
Solution Approach 1:
The security system is divided into multiple specialized modules: a wallet protection module that monitors wallet operations, a malware detection module that scans for malicious programs, and a traffic control module that filters network traffic. Each module focuses on specific security aspects, making the overall system more manageable and effective while maintaining operational simplicity for users.
Solution Approach 2:
The patent introduces intermediary security modules that act as mediators between users and the e-money system. These modules automatically monitor transactions, detect threats, and filter malicious traffic without requiring users to directly manage complex security configurations, thus improving reliability while keeping the user interface simple.
2Measurement precision
If comprehensive security scanning is performed on all software objects, then detection precision improves, but processing time increases
Solution Approach 1:
The wallet protection module performs preliminary actions by continuously monitoring wallet operations and pre-identifying potential threats before they can execute malicious activities. The malware detection module scans software objects in advance and maintains an updated database of known malicious programs, enabling faster detection without requiring comprehensive scanning at each transaction moment.
Solution Approach 2:
The security system implements periodic scanning and monitoring cycles rather than continuous comprehensive scanning. The malware detection module periodically scans software objects and updates threat databases, while the traffic control module continuously filters network traffic in real-time, balancing detection precision with processing time efficiency.
Data Source
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AI summary
Disclosed are systems and methods for protecting electronic money transactions from fraud and malware. An exemplary method include scanning a computer to detect software objects associated with electronic money that includes at least one of a wallet configured to store electronic money, an electronic money generating application, and data including an interaction history with an electronic exchange for electronic money; identifying and adjusting electronic money security modules configured to provide data security to the detected software objects associated with the electronic money; and executing, by the adjusted electronic money security modules, at least one electronic money transaction involving the electronic money. In one aspect, the electronic money security modules include a wallet protection module, a malware detection module, and a traffic control module.