Identifying negotiable instrument fraud using distributed ledger systems
Methods, systems, and apparatus, including computer programs encoded on a computer storage medium, for receiving first information of a first negotiable instrument, at least a portion of the first information including a first unique instrument identifier physically encoded on the first negotiable instrument, the first unique identifier uniquely identifying the first negotiable instrument among a plurality of negotiable instruments, transmitting the first information to a distributed ledger system, the distributed ledger system maintaining a blockchain that records transactions associated with a plurality of negotiable instruments, receiving first validation information from the distributed ledger system, the first validation information indicating that first negotiable instrument has not already been accepted, and accepting the first negotiable in response to the first validation information.
1. A computer-implemented method executed by at least one processor, the method comprising:
receiving, by the at least one processor, first information of a first negotiable instrument, at least a portion of the first information comprising a first unique instrument identifier physically encoded on the first negotiable instrument, the first unique identifier uniquely identifying the first negotiable instrument among a plurality of negotiable instruments;
requesting validation of the negotiable instrument using the first unique identifier, by; transmitting, by the at least one processor, the first information to a distributed ledger system, the distributed ledger system maintaining a blockchain that records transactions associated with a plurality of negotiable instruments;
receiving, by the at least one processor, first validation information from the distributed ledger system, the first validation information indicating that the first negotiable instrument has not already been accepted; and
accepting the first negotiable instrument m response to the first validation information.
2. The method of claim 1 , wherein the first information is transmitted to the distributed ledger system in a transaction message comprising the first information, an indicator of an entity transmitting the transaction message, and a timestamp.
3. The method of claim 1 , wherein the first unique identifier is encoded in a machine-readable code printed on the first negotiable instrument.
4. The method of claim 1 , further comprising transmitting a request for a ledger entry to the distributed ledger system in response to the first validation information, the distributed ledger system including at least the first information in a block that is added to the blockchain.
5. The method of claim 1 , wherein the first negotiable instrument comprises a check, and accepting the first negotiable instrument comprises depositing the check.
6. The method of claim 1 , further comprising:
receiving, by the at least one processor, second information of a second negotiable instrument, at least a portion of the second information comprising a second unique instrument identifier physically encoded on the second negotiable instrument, the second unique identifier uniquely identifying the second negotiable instrument among the plurality of negotiable instruments;
transmitting, by the at least one processor, the second information to the distributed ledger system;
receiving, by the at least one processor, second validation information from the distributed ledger system, the second validation information indicating that second negotiable instrument has already been accepted; and
denying the second negotiable in response to the first validation information.
7. A system comprising:
data store for storing data; and
at least one processor configured to interact with the data store, the at least one processor being further configured to execute computer-readable instructions to perform operations comprising:
receiving first information of a first negotiable instrument, at least a portion of the first information comprising a first unique instrument identifier physically encoded on the first negotiable instrument, the first unique identifier uniquely identifying the first negotiable instrument among a plurality of negotiable instruments;
requesting validation of the negotiable instrument using the first unique identifier, by; transmitting, by the at least one processor, the first information to a distributed ledger system, the distributed ledger system maintaining a blockchain that records transactions associated with a plurality of negotiable instruments;
receiving first validation information from the distributed ledger system, the first validation information indicating that the first negotiable instrument has not already been accepted; and
accepting the first negotiable instrument m response to the first validation information.
8. The system of claim 7 , wherein the first information is transmitted to the distributed ledger system in a transaction message comprising the first information, an indicator of an entity transmitting the transaction message, and a timestamp.
9. The system of claim 7 , wherein the first unique identifier is encoded in a machine-readable code printed on the first negotiable instrument.
10. The system of claim 7 , wherein operations further comprise transmitting a request for a ledger entry to the distributed ledger system in response to the first validation information, the distributed ledger system including at least the first information in a block that is added to the blockchain.
11. The system of claim 7 , wherein the first negotiable instrument comprises a check, and accepting the first negotiable instrument comprises depositing the check.
12. The method of claim 7 , wherein operations further comprise:
receiving second information of a second negotiable instrument, at least a portion of the second information comprising a second unique instrument identifier physically encoded on the second negotiable instrument, the second unique identifier uniquely identifying the second negotiable instrument among the plurality of negotiable instruments;
transmitting the second information to the distributed ledger system;
receiving second validation information from the distributed ledger system, the second validation information indicating that second negotiable instrument has already been accepted; and
denying the second negotiable in response to the first validation information.
13. A non-transitory computer-readable medium storing instructions that, when executed by at least one processor, cause the at least one processor to perform operations comprising:
receiving first information of a first negotiable instrument, at least a portion of the first information comprising a first unique instrument identifier physically encoded on the first negotiable instrument, the first unique identifier uniquely identifying the first negotiable instrument among a plurality of negotiable instruments;
requesting validation of the negotiable instrument using the first unique identifier, by; transmitting, by the at least one processor, the first information to a distributed ledger system, the distributed ledger system maintaining a blockchain that records transactions associated with a plurality of negotiable instruments;
receiving first validation information from the distributed ledger system, the first validation information indicating that the first negotiable instrument has not already been accepted; and
accepting the first negotiable instrument m response to the first validation information.
14. The computer-readable medium of claim 13 , wherein the first information is transmitted to the distributed ledger system in a transaction message comprising the first information, an indicator of an entity transmitting the transaction message, and a timestamp.
15. The computer-readable medium of claim 13 , wherein the first unique identifier is encoded in a machine-readable code printed on the first negotiable instrument.
16. The computer-readable medium of claim 13 , wherein operations further comprise transmitting a request for a ledger entry to the distributed ledger system in response to the first validation information, the distributed ledger system including at least the first information in a block that is added to the blockchain.
17. The computer-readable medium of claim 13 , wherein the first negotiable instrument comprises a check, and accepting the first negotiable instrument comprises depositing the check.
18. The computer-readable medium of claim 13 , wherein operations further comprise:
receiving second information of a second negotiable instrument, at least a portion of the second information comprising a second unique instrument identifier physically encoded on the second negotiable instrument, the second unique identifier uniquely identifying the second negotiable instrument among the plurality of negotiable instruments;
transmitting the second information to the distributed ledger system;
receiving second validation information from the distributed ledger system, the second validation information indicating that second negotiable instrument has already been accepted; and
denying the second negotiable in response to the first validation information.