System and method for control and prevention of fraudulent use of financial services cards

Abstract

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.

What is claimed is: 
     
         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.