System and method for control and prevention of fraudulent use of financial services cards
A system and method is provided for fraud detection includes using information broadcast by devices and resources in the immediate vicinity of a mobile device, or by sensors located within the mobile device itself, to ascertain and make a determination of the immediate environment and state of the mobile device. If the mobile device is determined to be outside a predetermined range of an ongoing transaction, the transaction may be denied.
1 . A fraud detection method, comprising:
a financial services provider detecting an ongoing financial card transaction, the detecting including determining a location of the ongoing financial card transaction;
determining a location of a cell phone associated with a registered user of the financial card responsive to the detecting the ongoing financial card transaction; and
if the location of the ongoing financial card transaction and the location of the cell phone are substantially the same, allowing the transaction to proceed.
2 . A fraud detection method in accordance with claim 1 , further comprising, if the location of the ongoing financial card transaction and the location of the cell phone are a predetermined distance from one another, providing content to the cell phone indicative of the ongoing financial card transaction.
3 . A fraud detection method in accordance with claim 2 , wherein the content includes one or more text messages.
4 . A fraud detection method in accordance with claim 2 , wherein the content includes one or more confirmatory messages.
5 . A fraud detection method in accordance with claim 2 , further comprising denying the transaction if a confirmation is not received back by the financial services provider.
6 . A computer program product including at least one tangible machine-readable medium including program instructions for:
detecting an ongoing financial card transaction, the detecting including determining a location of the ongoing financial card transaction;
determining a location of a cell phone associated with a registered user of the financial card responsive to the detecting the ongoing financial card transaction; and
if the location of the ongoing financial card transaction and the location of the cell phone are substantially the same, allowing the transaction to proceed.
7 . The computer program product of claim 6 , further comprising, if the location of the ongoing financial card transaction and the location of the cell phone are a predetermined distance from one another, providing content to the cell phone indicative of the ongoing financial card transaction.
8 . The computer program product of claim 7 , wherein the content includes one or more text messages.
9 . The computer program product of claim 7 , wherein the content includes one or more confirmatory messages.
10 . The computer program product of claim 7 , further comprising denying the transaction if a confirmation is not received back by the financial services provider.