SYSTEM AND METHOD FOR TRANSACTION AUTHENTICATION

1 . A method of authenticating a transaction at a transaction server, the method comprising:

receiving, at a processor and from a first communication device, a transaction initiation message;

determining, with the processor, an address of a trusted communication device to validate the transaction initiation message;

transmitting, with the processor, a security message to the trusted communication device, wherein the security message comprises a time-sensitive code;

receiving, with the processor and from the trusted communication device, a response message to the security message, wherein the response message comprises a location identifier that describes a location of the trusted communication device;

comparing, with the processor, the location of the trusted communication device as described by the location identifier in the response message with a location of the first communication device;

determining, with the processor, that a user entered the time-sensitive code within the predetermined amount of time;

identifying the transaction initiation message as either valid or possibly fraudulent in response to: (1) comparing the location of the trusted communication device as described by the location identifier in the response message with the location of the first communication device and (2) determining that the user entered the time-sensitive code within the predetermined amount of time; and

performing, with the processor, one of the following:

(iii) automatically allowing the transaction to occur based on the transaction initiation message being identified as valid; and

(iv) transmitting a fraudulent transaction alert based on the transaction initiation message being identified as possibly fraudulent.

2 . The method of claim 1 , wherein the response message further comprises call history information, the method further comprising:

comparing, with the processor, the call history information with a number of the first communication device; and

identifying the transaction initiation message as either valid or possibly fraudulent in response to comparing the call history information with the number of the first communication device.

3 . The method of claim 2 , wherein the call history information comprises at least one of: (i) a listing of numbers associated with incoming or outgoing calls at the trusted communication device over the predetermined amount of time and (ii) call content and wherein the transaction initiation message is identified as possibly fraudulent in response to detecting at least one of the number of the first communication device in the call history information and the call content indicating a request for sensitive information.

4 . The method of claim 1 , further comprising:

automatically initiating an additional authentication process in response to the transaction initiation message being identified as possibly fraudulent; and

delaying the transaction until the additional authentication process is completed.

5 . The method of claim 4 , wherein the additional authentication process comprises a real-time query and response protocol that requires the user of the trusted communication device to provide a valid response to a query initiated by the transaction server.

6 . The method of claim 1 , wherein the trusted communication device is different from the first communication device and wherein the time-sensitive code comprises a One-Time Password (OTP) that is entered by the user at a user interface of a transacting device so as to match the OTP received in the security message.

7 . The method of claim 1 , wherein transmitting the fraudulent transaction alert based on the transaction initiation message being identified as possibly fraudulent comprises:

transmitting the fraudulent transaction alert to the trusted communication device.

8 . The method of claim 1 , wherein transmitting the fraudulent transaction alert based on the transaction initiation message being identified as possibly fraudulent comprises:

transmitting the fraudulent transaction alert to security personnel at a communication device other than the trusted communication device.

9 . The method of claim 1 , further comprising:

monitoring behavior of the user at the trusted communication device;

determining, based on the monitored behavior of the user, a security awareness quotient for the user; and

increasing authentication requirements for transactions associated with the user based on the security awareness for the user quotient falling below a predetermined threshold value.

10 . A communication system for authenticating a transaction, comprising:

a processor; and

computer memory storing data thereon that enables the processor to:

receive, from a first communication device, a transaction initiation message;

determine an address of a trusted communication device to validate the transaction initiation message;

transmit a security message to the trusted communication device, wherein the security message comprises a time-sensitive code;

receive, from the trusted communication device, a response message to the security message, wherein the response message comprises a location identifier that describes a location of the trusted communication device;

compare the location of the trusted communication device as described by the location identifier in the response message with a location of the first communication device;

determine whether or not a user entered the time-sensitive code within the predetermined amount of time;

identify the transaction initiation message as either valid or possibly fraudulent in response to: (1) comparing the location of the trusted communication device as described by the location identifier in the response message with the location of the first communication device and (2) determining whether or not the user entered the time-sensitive code within the predetermined amount of time; and

perform one of the following:

(i) automatically allow the transaction to occur based on the transaction initiation message being identified as valid; and

(ii) transmit a fraudulent transaction alert based on the transaction initiation message being identified as possibly fraudulent.

11 . The communication system of claim 10 , wherein the response message further comprises call history information and wherein the data stored on the computer memory further enables the processor to:

compare the call history information with a number of the first communication device; and

identify the transaction initiation message as either valid or possibly fraudulent in response to comparing the call history information with the number of the first communication device.

12 . The communication system of claim 11 , wherein the call history information comprises at least one of: (i) a listing of numbers associated with incoming and outgoing calls at the trusted communication device over the predetermined amount of time and (ii) call content and wherein the transaction initiation message is identified as possibly fraudulent in response to detecting at least one of the number of the first communication device in the call history information and the call content indicating a request for sensitive information.

13 . The communication system of claim 10 , wherein the data stored on the computer memory further enables the processor to:

automatically initiate an additional authentication process in response to the transaction initiation message being identified as possibly fraudulent; and

delay the transaction until the additional authentication process is completed.

14 . The communication system of claim 10 , wherein the trusted communication device is different from the first communication device, wherein the time-sensitive code comprises a One-Time Password (OTP) that is received by the user, and wherein receipt of the security message causes the trusted communication device to automatically generate the response message.

15 . The communication system of claim 10 , wherein the fraudulent transaction alert is transmitted to the trusted communication device and to another communication device of a security personnel.

16 . A transaction server, comprising:

a processor; and

memory storing instructions there that are executable by the processor, wherein the instructions comprise:

instructions that process a transaction initiation message received from a first communication device;

instructions that transmit a security message to a trusted communication device in response to processing the transaction initiation message, wherein the security message comprises a time-sensitive code;

instructions that receive and process a response message to the security message, wherein the response message comprises a location identifier that describes a location of the trusted communication device;

instructions that compare the location of the trusted communication device as described by the location identifier in the response message with a location of the first communication device;

instructions that determine whether or not a user entered the time-sensitive code within the predetermined amount of time;

instructions that identify the transaction initiation message as possibly fraudulent in response to at least one of: (1) comparing the location of the trusted communication device as described by the location identifier in the response message with the location of the first communication device and (2) determining whether or not the user entered the time-sensitive code within the predetermined amount of time; and

instructions that transmit a fraudulent transaction alert based on the transaction initiation message being identified as possibly fraudulent.

17 . The transaction server of claim 16 , wherein the response message further comprises call history information that includes content of a call and wherein the instructions further comprise:

instructions that analyze the content of the call to determine if a request for sensitive information is included in the content of the call; and

instructions that transmit the fraudulent transaction alert based on the content of the call including the request for sensitive information.

18 . The transaction server of claim 16 , wherein the instructions further comprise:

instructions that automatically initiate an additional authentication process in response to the transaction initiation message being identified as possibly fraudulent; and

instructions that delay the transaction until the additional authentication process is completed, wherein the additional authentication process comprises a real-time query and response protocol that requires the user of the trusted communication device to provide a valid response to a query initiated by the transaction server.

19 . The transaction server of claim 16 , wherein the trusted communication device is different from the first communication device, wherein the time-sensitive code comprises a One-Time Password (OTP) that is received by the user, and wherein receipt of the security message causes the trusted communication device to generate the response message.

20 . The transaction server of claim 16 , wherein the fraudulent transaction alert is transmitted to the trusted communication device and to another communication device of a security personnel and wherein the instructions further comprise:

instructions that determine an active call is in progress between the trusted communication device and the first communication device;

instructions that determine the active call is in progress coincident with receiving the transaction initiation message;

instructions that determine, from call history information received from the trusted communication device, that a number of the first communication device is unknown to the trusted communication device; and

instructions that identify the transaction initiation message as possibly fraudulent in response to determining that the number of the first communication device is unknown to the trusted communication device.