Description:FIELD
[0001] Various embodiments of the present disclosure relate generally to fraudulent financial transactions. More particularly, various embodiments of the present disclosure relate to preventing one-time password (OTP) based fraudulent financial transactions.
BACKGROUND
[0002] Generally, users utilize payment modes such as credit cards, debit cards, digital wallets, and unified payment interfaces to perform financial transactions associated with payment accounts. The payment modes are utilized for performing online financial transactions, withdrawing cash from automated teller machines (ATMs), and the like. One-time password (OTP) based authentication mechanism is utilized for securing these financial transactions. In OTP-based authentication, an OTP that is valid for a specific period is sent to a registered device of the user when a financial transaction is initiated by the payment mode. The financial transaction is successfully authenticated when the OTP sent to the registered device is entered on an interface through which the financial transaction has been initiated during the specific period.
[0003] The details of the payment mode may however be fraudulently obtained by fraudsters through online data theft, ATM skimming, and the like. A fraudster may thus initiate the financial transaction by using the details of the payment mode. On initiating such a financial transaction, the OTP associated with the financial transaction is received on the registered device of the user. The fraudsters may make vishing calls to the user to steal the OTP. In some scenarios, the user is unaware that the caller is fraudulent and reveals the OTP to the caller (i.e., the fraudsters) thus resulting in a fraudulent financial transaction on the payment mode of the user. Alternatively, the fraudsters may inject malware into the registered device to steal the OTP. Thus, the user ends up losing money to such fraudsters.
[0004] In light of the foregoing, there is a need for a technical solution that solves the above-abovementioned problem and prevents OTP-compromised fraudulent financial transactions.
SUMMARY
[0005] Method and system for preventing fraudulent financial transaction is provided substantially as shown in and described in connection with, at least one of the figures, as set forth more completely in the claims.
[0006] In an embodiment of the present disclosure, a method to monitor fraudulent activity in a communication device during a financial transaction that is initiated using a payment mode associated with the communication device is provided. The method includes receiving, by a processor of the communication device, a first communication from a first entity. The first communication is received during a validity period of a one-time password (OTP) associated with the financial transaction. The method further includes monitoring, by the processor, a plurality of communication channels of the communication device during the validity period to detect the reception of the first communication by way of a first communication channel of the plurality of communication channels. The method further includes notifying, by the processor, during the validity period, a user of the communication device to refrain from sharing the OTP with the first entity through at least one of the plurality of communication channels based on identification that the first entity is fraudulent, by way of a notification.
[0007] In another embodiment of the present disclosure, a communication device is disclosed. The communication device includes a processor configured to receive a first communication from a first entity during a validity period of a one-time password (OTP) associated with a financial transaction. The financial transaction is initiated using a payment mode associated with the communication device. The processor is further configured to monitor a plurality of communication channels of the communication device during the validity period to detect the reception of the first communication by way of a first communication channel of the plurality of communication channels. The processor is further configured to notify during the validity period, a user of the communication device to refrain from sharing the OTP with the first entity through at least one of the plurality of communication channels based on identification that the first entity is fraudulent, by way of a notification.
[0008] In some embodiments, the method includes receiving, by the processor, a first message that comprises the validity period of the OTP associated with the financial transaction. The method further includes extracting the validity period from the first message, by the processor. The processor monitors the plurality of communication channels during the validity period.
[0009] In some embodiments, the method includes receiving, by the processor, a second message. The second message includes the OTP associated with the financial transaction. The method further includes extracting, by the processor, details of the second message. Further, the method includes analyzing, by the processor, the details of the second message to determine that the second message is an OTP message. The method further includes identifying an identifier of a sender of the second message, by the processor, upon the determination that the second message is the OTP message. The method further includes fetching the validity period of the OTP from a database, by the processor, based on the identifier of the sender. The processor monitors the plurality of communication channels during the validity period.
[0010] In some embodiments, the method includes monitoring, by the processor, a plurality of applications installed on the communication device to detect a set of attempts by at least one of the plurality of applications to access a set of contents associated with the communication device during the validity period. The access is at least one of an access to read the set of contents, an access to record the set of contents, and an access to screen share the set of contents. Further, the method includes determining, by the processor, whether at least one of the plurality of applications attempting to access the set of contents is present in a set of whitelisted applications. The method further includes blocking, by the processor, access of a first application of the plurality of applications to the set of contents during the validity period based on the determination that the first application is absent in the set of whitelisted applications.
[0011] In some embodiments, the method includes rendering, by the processor, an option on a display screen of the communication device to the user to select at least one of accept the initiated financial transaction and decline the initiated financial transaction upon notifying the user. Further, the method includes transmitting, by the processor, a third message to a server associated with the initiated financial transaction. When the option to accept the initiated financial transaction is selected by the user, the third message indicates the server to allow the initiated financial transaction, and when the option to decline the initiated financial transaction is selected by the user, the third message indicates the server to decline the initiated financial transaction.
[0012] In some embodiments, the method includes acquiring an identifier of the first entity to identify that the first entity is fraudulent upon the detection of the reception of the first communication. The first entity is identified to be fraudulent when the identifier of the first entity is at least one of absent in a contact list stored in a memory associated with the communication device, and present in a fraudulent list in the memory.
[0013] In some embodiments, the method includes acquiring an identifier of the first entity on detecting the reception of the first communication. Further, the method includes receiving an indication that the first entity is identified to be fraudulent based on the identifier that is acquired.
[0014] In some embodiments, the method includes disabling by the processor, a set of input components of the communication device upon notifying the user.
[0015] In some embodiments, the plurality of communication channels include a call channel, a text message channel, a screen-sharing platform, and an email channel. The first communication is one of an audio call, a text message, a communication initiated by way of the screen-sharing platform, and an email.
[0016] In some embodiments, the notification is at least one of a voice alert, a pop-up message, an email, a flash message, and a text message.
[0017] In some embodiments, the method includes determining by the processor, a preferred communication language of the user based on stored historical details of the user. The notification is in the preferred communication language.
[0018] In some embodiments, the processor is configured to receive, a first message that comprises the validity period of the OTP associated with the financial transaction. The processor is further configured to extract the validity period from the first message. The processor monitors the plurality of communication channels during the validity period.
[0019] In some embodiments, the processor is configured to receive a second message that comprises the OTP associated with the financial transaction. The processor is further configured to extract, details of the second message. The processor is further configured to analyze the details of the second message to determine that the second message is an OTP message. The processor is further configured to identify an identifier of a sender of the second message upon the determination that the second message is the OTP message. The processor is further configured to fetch the validity period of the OTP from a database based on the identifier of the sender. The processor monitors the plurality of communication channels during the validity period.
BRIEF DESCRIPTION OF THE DRAWINGS
[0020] The accompanying drawings illustrate the various embodiments of systems, methods, computer program products, and other aspects of the disclosure. It will be apparent to a person skilled in the art that the illustrated element boundaries (e.g., boxes, groups of boxes, or other shapes) in the figures represent one example of the boundaries. In some examples, one element may be designed as multiple elements, or multiple elements may be designed as one element. In some examples, an element shown as an internal component of one element may be implemented as an external component in another, and vice versa.
[0021] Various embodiments of the present disclosure are illustrated by way of example, and not limited by the appended figures, in which like references indicate similar elements:
[0022] FIG. 1 is a block diagram that illustrates a system environment for preventing fraudulent financial transactions, in accordance with an exemplary embodiment of the present disclosure;
[0023] FIGS. 2A-2E collectively represent a pictorial representation of a notification outputted on a communication device of the system environment of FIG. 1, in accordance with an exemplary embodiment of the present disclosure;
[0024] FIG. 2F represents a pictorial representation of an option rendered on a display screen of the communication device of the system environment of FIG. 1, in accordance with an exemplary embodiment of the present disclosure;
[0025] FIGS. 3A-3E, collectively, represent a process flow diagram that illustrates an exemplary method to monitor fraudulent activity in the communication device during a financial transaction that is initiated using a payment mode associated with the communication device of the system environment of FIG. 1, in accordance with an exemplary embodiment of the present disclosure;
[0026] FIGS. 4A-4E collectively represent a flowchart that illustrates a method (i.e., a process) to monitor fraudulent activity in the communication device during a financial transaction that is initiated using a payment mode associated with the communication device of the system environment of FIG. 1, in accordance with an exemplary embodiment of the present disclosure;
[0027] FIG. 5 represents a high-level flowchart that illustrates a method to monitor fraudulent activity in the communication device during a financial transaction that is initiated using a payment mode associated with the communication device of the system environment of FIG. 1, in accordance with an exemplary embodiment of the present disclosure; and
[0028] FIG. 6 is a block diagram that illustrates a system architecture of a computer system of the system environment of FIG. 1, in accordance with an exemplary embodiment of the present disclosure.
[0029] Further areas of applicability of the present disclosure will become apparent from the detailed description provided hereinafter. It should be understood that the detailed description of exemplary embodiments is intended for illustration purposes only and is, therefore, not intended to necessarily limit the scope of the present disclosure.
DETAILED DESCRIPTION
[0030] The present disclosure is best understood with reference to the detailed figures and description set forth herein. Various embodiments are discussed below with reference to the figures. However, those skilled in the art will readily appreciate that the detailed descriptions given herein with respect to the figures are simply for explanatory purposes as the methods and systems may extend beyond the described embodiments. In one example, the teachings presented and the needs of a particular application may yield multiple alternate and suitable approaches to implement the functionality of any detail described herein. Therefore, any approach may extend beyond the particular implementation choices in the following embodiments that are described and shown.
[0031] References to “an embodiment”, “another embodiment”, “yet another embodiment”, “one example”, “another example”, “yet another example”, “for example”, and so on, indicate that the embodiment(s) or example(s) so described may include a particular feature, structure, characteristic, property, element, or limitation, but that not every embodiment or example necessarily includes that particular feature, structure, characteristic, property, element or limitation. Furthermore, repeated use of the phrase “in an embodiment” does not necessarily refer to the same embodiment.
 
OVERVIEW
[0032] Generally, users utilize their payment modes (such as credit cards and/or debit cards) to perform various financial transactions. There are authentication mechanisms for securing these financial transactions. One such authentication mechanism is two-factor authentication which involves a one-time password (OTP) to secure a financial transaction initiated by using a payment mode of a user. The OTP is shared with a registered device of the user. The OTP has to be entered for authentication of the initiated financial transaction. At times, a fraudster may initiate a financial transaction by using details of the payment mode that are obtained through online data theft, ATM skimming, or the like. Further, the fraudster may obtain the OTP by connecting with the registered device of the user through an audio call, a text message, an email, or a screen-sharing platform. In an example, the fraudster speaks to the user through a voice call posing as a bank employee to steal the OTP. The user may fall prey to such traps and reveal the OTP to the fraudster resulting in a fraudulent financial transaction.
[0033] Various embodiments of the present disclosure provide a method to solve the above-mentioned problems for preventing fraudulent financial transactions. A processor of a registered communication device of a user receives communication from an entity during a validity period of a one-time password associated with a financial transaction initiated by utilizing a payment mode of the user. The processor monitors various communication channels (such as a call channel, a text message channel, a screen-sharing platform, and an email channel) of the registered communication device to detect the reception of the communication. The communication established with the entity may be an audio call, a text message, shared content by way of the screen-sharing platform, and an email. Further, the user is notified during the validity period to alert the user, by way of a notification. If the entity is identified to be fraudulent, the notification indicates to the user to refrain from sharing the OTP with the entity. The notification may be one of a voice alert, a flash message, a pop-up message, a text message, and an email. The user may refrain from sharing the OTP with the entity based on the notification thereby preventing a fraudulent financial transaction.
TERMS DESCRIPTION (in addition to plain and dictionary meaning)
[0034] Payment mode is a medium that facilitates access to a payment account maintained at a financial institution. The payment mode is utilized to make payments from the payment account. Examples of the payment mode may include but are not limited to, a payment card, a digital wallet, a unified payment interface (UPI), or the like.
[0035] First message refers to a message received by a device associated with a payment mode from a secure server upon initiation of a financial transaction by utilizing the payment mode. The first message includes a validity period of a one-time password (OTP) associated with the initiated financial transaction.
[0036] Second message refers to a message received by a device associated with a payment mode from a secure server upon initiation of a financial transaction by utilizing the payment mode. The second message includes a one-time password (OTP) associated with the initiated financial transaction.
[0037] OTP is a temporary, single-use password used for the authentication of a financial transaction. The OTP is valid for a specified duration which is referred to as the validity period of the OTP.
[0038] Server is a physical or cloud data processing system on which a server program runs. A server may be implemented in hardware, software, and/or a computer program that is executed on programmable computers such as personal computers, laptops, or a network of computer systems. The server may correspond to a secure server, an acquirer server, a payment network server, or an issuer server.
[0039] Issuer is associated with a financial institution, such as a bank, where accounts of several users are established and maintained. The issuer server ensures payment for approved financial transactions in accordance with various payment network regulations and local legislation.
[0040] Acquirer is a financial institution, such as a bank, where an account of recipient of a financial transaction is established and maintained for accepting payments.
[0041] Payment network acts as an intermediate entity between the acquirer and the issuer to process the financial transactions. In an embodiment, payment card associations are the payment networks. Examples of various payment card associations include MasterCard®, American Express®, VISA®, Discover®, Diners Club®, and the like. In another embodiment, digital payment service providers are the payment networks. Examples of various digital payment service providers include PAYPAL®, APPLE PAY®, Google Pay®, PhonePe®, and the like. The payment network server is operated by a payment network. Payment networks settle financial transactions between various acquirer banks and issuer banks.
[0042] Secure server refers to a server arrangement that secures financial transactions. The secure server authenticates a financial transaction by authenticating OTP entered for securing the financial transaction.
[0043] Communication channel refers to a medium that facilitates establishment of communication between two entities. Examples of the communication channel include a call channel, a text message channel, a screen-sharing platform, and an email channel.
[0044] First entity refers to one or more devices operated by an individual, a group of individuals, or a software program. Examples of the first entity include a mobile phone, a telephone, a computer, a laptop, a smartphone, a tablet, a network of computers, a phablet, and a combination thereof.
[0045] Fraudulent list refers to a collection of contact information of fraudulent individuals or fraudulent organizations. The fraudulent list may include phone numbers, email addresses, and the like of such fraudulent individuals/organizations.
[0046] Contact list refers to a collection of contact information for individuals or organizations that is stored in a memory of a communication device that is linked with the payment mode of the user. The contact list may include names, telephone numbers, mobile phone numbers, email addresses, and the like.
[0047] An application is a computer program installed on a device to perform a specific function or a set of specific functions. Examples of the application include a payment application, an online banking application, a video editing application, a gaming application, and the like.
[0048] Contents associated with a device refer to data stored in the device, data displayed on the device, data captured by the device, or the like.
[0049] Third message is a message transmitted by a processor of the device to a secure server. The third message indicates the secure server to either allow an initiated transaction or decline an initiated transaction.
[0050] FIG. 1 is a block diagram that illustrates a system environment 100 for preventing fraudulent financial transactions, in accordance with an exemplary embodiment of the present disclosure. The system environment 100 includes a user 102, a payment mode 104, a first entity 105, a communication device 106, a secure server 108, an acquirer server 110, a payment network server 112, an issuer server 114, and a fraud detection server 115. The first entity 105, the communication device 106, the secure server 108, the acquirer server 110, the payment network server 112, the issuer server 114, and the fraud detection server 115 may communicate with each other by way of a communication network 118.
[0051] The user 102 is an account holder of a first payment account maintained at a financial institution, such as an issuer. Examples of the first payment account may include a savings account, a current account, a debit account, a credit account, a digital wallet account, or the like. The user 102 owns the payment mode 104 that is linked to the first payment account. The first payment account and the payment mode 104 may be linked with a device such as the communication device 106 that is associated with the user 102. Contact information of the user 102 may be provided by the user 102 during the opening of the first payment account at the financial institution. The contact information may include at least one of a mobile number of the communication device 106, a voice over internet protocol (VoIP) address of the user 102, and an email address of the user 102.
[0052] The payment mode 104 is associated with the first payment account of the user 102. The payment mode 104 is a medium that facilitates the user 102 to access the first payment account maintained at the financial institution. The payment mode 104 is issued to the user 102 by the financial institution. The payment mode 104 is associated with an identifier that serves as an identification of the payment mode 104. The identifier may thus be a numeric value, an alphanumeric value, or an alphabetic value. The payment mode 104 may be used by the user 102 to make payments for availing services such as purchase of a product, transferring funds, and the like. In an embodiment, the payment mode 104 is a payment card. Further, the payment card may be either a physical payment card or a virtual payment card. Examples of the payment card include, but are not limited to, a credit card, a debit card, a prepaid card, a gift card, a rewards card, a loyalty points card, a frequent flyer miles card, or the like. In another embodiment, the payment mode 104 is one of a digital wallet and a unified payment interface (UPI) that may be provided by a digital payment service provider by way of a service application installed on the communication device 106.
[0053] When the payment mode 104 is a physical payment card, payment mode details of the payment mode 104 are stored in a memory element (not shown) associated with the payment mode 104. Further, when the payment card is a virtual payment card, the payment mode details of the payment mode 104 may be stored electronically in the memory 122 of the communication device 106. The payment mode details may include at least one of an identifier of the payment mode 104, a bank identification number associated with the payment mode 104, an expiry date of the payment mode 104, a card verification value of the payment mode 104, a name of the user 102 associated with the payment mode 104, a personal identification number (PIN), a password, or the like. When the payment mode 104 is UPI, UPI details are stored in the memory 122 associated with the service application that provides UPI as the payment mode 104. The UPI details may include a UPI identifier, a PIN or a password, or the like. When the payment mode 104 is a digital wallet, digital wallet details are stored in the memory 122 associated with the service application that provides the digital wallet as the payment mode 104. The digital wallet details may include a digital wallet identifier, a PIN or a password, or the like. For the sake of simplicity of the ongoing description, it is assumed that the payment mode 104 is a payment card.
[0054] The first entity 105 may be one or more devices operated by an individual, a group of individuals, or a software program. The first entity 105 may initiate a financial transaction by utilizing the payment mode details. In an embodiment, the first entity 105 is legitimate. In another embodiment, the first entity 105 is fraudulent. When the first entity 105 is fraudulent, the first entity 105 may obtain the payment mode details through data theft, automated teller machine (ATM) skimming, or the like. Data theft refers to the act of stealing the payment mode details stored in business databases. The payment mode details may be stored in the business databases upon performing online financial transactions, card-present financial transactions, or the like. ATM skimming refers to stealing the payment mode details of the payment mode 104 by rigging an ATM with hidden recording devices. Further, the first entity 105 may establish a connection with the communication device 106 after initiating the financial transaction to obtain the OTP associated with the financial transaction to authenticate the financial transaction.
[0055] Upon the initiation of the financial transaction by the first entity 105, the secure server 108 receives a first request from the first entity 105. The first request may include financial transaction initiation details. The financial transaction initiation details may include the identifier of the payment mode 104, the bank identification number associated with the payment mode 104, the expiry date of the payment mode 104, the card verification value of the payment mode 104, the name of the user 102, an amount associated with the financial transaction, a bank identification number of a recipient associated with the financial transaction, and a name of the recipient associated with the financial transaction. In an example, the secure server 108 receives the first request when the identifier of the payment mode 104, the name of the user 102, and the card verification value of the payment mode 104 are entered on a user interface associated with a payment gateway (not shown). A payment gateway is a platform that enables online merchants to accept electronic payments from customers. The payment gateway acts as an intermediary between the merchant website/application and the secure server 108. The payment gateway transmits the first request to the secure server 108. The financial transaction initiated by the first entity 105 is interchangeably referred to as “the initiated financial transaction” throughout the present disclosure. Examples of the first entity 105 may include but are not limited to, a mobile phone, a telephone, a computer, a laptop, a smartphone, a tablet, a network of computers, a phablet, and a combination thereof.
[0056] The communication device 106 includes suitable logic, circuitry, interfaces, and/or code, executable by the circuitry for preventing fraudulent financial transactions. Further, the communication device 106 may be a computing device of the user 102. Further, the communication device 106 is associated with the payment mode 104. Examples of the communication device 106 include but are not limited to, a mobile phone, a computer, a laptop, a smartphone, a tablet, and a phablet. The communication device 106 may include a first processor 120, a memory 122, a set of input components 124, a set of output components 125, a network interface 126, and a display screen 130. The first processor 120, the memory 122, the set of input components 124, the set of output components 125, the network interface 126, and the display screen 130 may communicate with each other via a first communication bus 128. The first communication bus 128 may be configured to allow data such as electrical signals and electromagnetic signals to be transferred between the first processor 120, the memory 122, the set of input components 124, the set of output components 125, the network interface 126, and the display screen 130. Examples of the first communication bus 128 may include, but are not limited to a data bus, an address bus, and a control bus.
[0057] The first processor 120 of the communication device 106 includes suitable logic, circuitry, interfaces, and/or code executable by the circuitry for performing various operations for preventing fraudulent financial transactions. A fraud prevention application may be installed on the communication device 106 for preventing fraudulent financial transactions. The first processor 120 executes a set of instructions associated with the fraud prevention application for preventing fraudulent financial transactions. An application is a computer program that is installed on the communication device 106 to perform a specific function or a set of specific functions. In one embodiment, the fraud prevention application may be preinstalled on the communication device 106. In another embodiment, the fraud prevention application is installed by the user 102. The user 102 registers the payment mode 104 on the fraud prevention application through a user interface rendered by the fraud prevention application on the communication device 106.
[0058] To register the payment mode 104, the payment mode details may be entered by the user 102 through the user interface. Further, the payment mode details may be authenticated by the secure server 108 and the issuer server 114 during the registration of the payment mode 104. Upon the registration of the payment mode 104 on the fraud prevention application, a network address of the communication device 106 is registered on the secure server 108. The network address of the communication device 106 refers to a unique identifier assigned to the communication device 106 on a specific network. In other words, the network address is a unique identifier assigned to the network interface 126 of the communication device 106. The unique identifier is assigned to the communication device 106 by a manufacturer of the communication device 106. The network address is also referred to as the "Media Access Control" (MAC) address or the "International Mobile Equipment Identity" (IMEI) number. The secure server 108 utilizes the network address of the communication device 106 to identify and communicate with the communication device 106 through the communication network 118.
[0059] An option to select a preferred communication language from a plurality of communication languages to receive notifications from the fraud prevention application is additionally provided to the user 102 by the fraud prevention application during the registration of the payment mode 104. Examples of the plurality of communication languages may include but are not limited to English, Hindi, French, Marathi, Spanish, Kannada, Tamil, Bengali, Telugu, and the like. The first processor 120 stores the preferred communication language selected by the user 102 in the memory 122. Further, during the registration of the payment mode 104, the user 102 may provide residential address of the user 102. The first processor 120 further stores the residential address of the user 102 in the memory 122. The preferred communication language and the residential address of the user 102 may be referred to as the historical details of the user 102.
[0060] In one embodiment, the first processor 120 is configured to receive a first message from the secure server 108 upon the initiation of the financial transaction by the first entity 105. The first message includes a validity period of a one-time password (OTP) associated with the initiated financial transaction. The OTP is a temporary, single-use password used for the authentication of a financial transaction. The OTP is valid for a specified duration that is referred to as the validity period of the OTP. The first message may include the OTP and the validity period of the OTP. In an embodiment, the first message may further indicate the first processor 120 to monitor the communication device 106. The communication device 106 may further receive the OTP for authenticating the financial transaction from the secure server 108.
[0061] Upon receiving the first message, the first processor 120 may extract the validity period of the OTP from the first message. In an example, the validity period of the OTP is two minutes. In another embodiment, the first processor 120 is configured to receive a second message from the secure server 108 upon the initiation of the financial transaction by the first entity 105. The second message includes the OTP associated with the initiated financial transaction. In such an embodiment, the system environment 100 further includes a database 132 that is communicatively coupled to the communication device 106 through the communication network 118. The first processor 120 may extract details of the second message. Further, the first processor 120 analyzes the details of the second message to determine that the second message is an OTP message. OTP message refers to a message that includes an OTP associated with a financial transaction. In a non-limiting example, the first processor 120 may check for an occurrence of one of the terms such as “OTP”, “one-time password”, “validating code”, or the like in the details of the second message to determine that the second message is an OTP message. In another non-limiting example, the first processor 120 may check for an occurrence of a six-digit to an eight-digit number to determine that the second message is an OTP message.
[0062] Upon determining that the second message is the OTP message, the first processor 120 identifies an identifier of a sender of the second message. The identifier of the sender of the second message indicates an issuer associated with the initiated financial transaction. An identifier of an entity refers to a unique address that is used to identify the entity and establish communication with the entity. The identifier of the first entity 105 may be one of a telephone number, a mobile phone number, an email address, a numerical value, an alphabetical value, and an alphanumerical value. Further, the first processor 120 fetches the validity period of the OTP from the database 132 based on the identifier of the sender of the second message.
[0063] Further, the first processor 120 may receive a first communication from the first entity 105 during the validity period of the OTP. The first processor 120 may be configured to monitor a plurality of communication channels of the communication device 106 during the validity period of the OTP to detect the reception of the first communication by way of a first communication channel of the plurality of communication channels. A communication channel refers to a medium that facilitates establishment of communication between two entities (such as the communication device 106 and the first entity 105). Examples of the communication channel may include a call channel, a text message channel, a screen-sharing platform, and an email channel.
[0064] The call channel is associated with the mobile number of the communication device 106 and/or the VoIP address of the user 102. Further, the text message channel is associated with the mobile number of the communication device 106 and/or the VoIP address of user 102. Additionally, the screen-sharing platform is associated with the mobile number of the communication device 106 and/or the VoIP address of the user 102, and the email channel is associated with the email address of the user 102. The communication device 106 may receive and initiate audio calls using the call channel. The communication device 106 may send and receive text messages using the text message channel. Further, the communication device 106 may send and receive emails using the email channel. Additionally, the communication device 106 may share contents displayed on the display screen 130 of the communication device 106 using the screen-sharing platform. The first communication may be an audio call, a video call a text message, a communication initiated by way of the screen-sharing platform, or an email. Examples of the audio call include, but are not limited to an audio call, a video call, an audio/video call, or the like. Further, the audio calls may be established with the communication device 106 by way of a cellular network, an Internet connection, or the like. Examples of the text message include, but are not limited to, a short message service (SMS), a multimedia message service (MMS), rich communication services (RCS), an instant message, a pop-up message, a flash message, or the like.
[0065] The first communication may be initiated by the first entity 105. On initiation of the first communication by the first entity 105, the first communication may be established between the communication device 106 and the first entity 105. Upon detection of the reception of the first communication, the first processor 120 acquires an identifier of the first entity 105 to identify whether the first entity 105 is fraudulent. The identifier of the first entity 105 is one of a telephone number and a mobile phone number when the first communication is an audio call. Further, the identifier of the first entity 105 is an email address when the first communication is an email. The email address may be an alphabetical value or an alphanumerical value. Additionally, the identifier of the first entity 105 is one of a mobile phone number, a numerical value, an alphabetical value, and an alphanumerical value when the first communication is a text message or a flash message. The identifier of the first entity 105 may also be referred to as the contact information of the first entity 105.
[0066] The first processor 120 further identifies whether the first entity 105 is fraudulent based on the identifier of the first entity 105. In an embodiment, the first processor 120 checks if the identifier of the first entity 105 is at least one of absent in a contact list stored in the memory 122 and present in a first fraudulent list stored in the memory 122. Contact list refers to a collection of contact information for individuals or organizations that is stored in the memory 122 of the communication device 106. The contact list may be created by the user 102. The contact list may include names, telephone numbers, mobile phone numbers, email addresses, and the like. A fraudulent list, such as the first fraudulent list, refers to a collection of contact information of fraudulent individuals or fraudulent organizations. The first fraudulent list may include telephone numbers, mobile phone numbers, email addresses, and the like. The fraudulent individuals or the fraudulent organizations refer to an entity that misleads various users, such as the user 102, with the objective to get an unlawful advantage by obtaining sensitive information such as the OTP. In an example, telephone numbers, mobile phone numbers, and email addresses blocked by the user 102 may be added to the first fraudulent list stored in the memory 122. In another example, telephone numbers, mobile phone numbers, and email addresses blocked by one or more fraud detection applications installed on the communication device 106 and/or phone numbers and email addresses marked as spam by the one or more fraud detection applications may be added to the first fraudulent list stored in the memory 122. In one scenario, the first entity 105 is identified to be fraudulent when the identifier of the first entity 105 is absent in the contact list stored in the memory 122. In another scenario, the first entity 105 is identified to be fraudulent when the identifier of the first entity 105 is present in the first fraudulent list stored in the memory 122. In yet another scenario, the first entity 105 is identified to be fraudulent when the identifier of the first entity 105 is absent in the contact list stored in the memory 122 and present in the first fraudulent list stored in the memory 122.
[0067] In another embodiment, the first processor 120 may communicate the identifier of the first entity 105 to the fraud detection server 115 and in response receive a first indication that specifies whether the first entity 105 is fraudulent. In yet another embodiment, the first entity 105 is identified to be fraudulent when the one or more fraud detection applications installed on the communication device 106 detects the first entity 105 to be fraudulent. The one or more fraud detection applications may be maintained by the fraud detection server 115. The one or more fraud detection applications may communicate with the fraud detection server 115 to determine that the first entity 105 is fraudulent. The one or more fraud detection applications may thus communicate with the first processor 120 to indicate that the first entity 105 is fraudulent.
[0068] The first processor 120 is further configured to notify the user 102 of the communication device 106 during the validity period of the OTP, to refrain from sharing the OTP with the first entity 105 through at least one of the plurality of communication channels by way of a notification. The notification may be outputted on the communication device 106 during the validity period of the OTP. In an embodiment, the notification may be outputted continuously during the validity period of the OTP. In another embodiment, the notification may be outputted at regular intervals (such as every 10 seconds) during the validity period of the OTP. Upon the identification that the first entity 105 is fraudulent, the notification indicates to the user 102 to refrain from sharing the OTP with the first entity 105, by way of at least one of the plurality of communication channels. The notification is at least one of a voice alert, a pop-up message, an email, a flash message, and a text message. Further, the first processor 120 is configured to determine the preferred communication language of the user 102 to output the notification in the preferred communication language of the user 102. In an embodiment, the preferred communication language of the user 102 is determined based on the stored historical details of the user 102. In another embodiment, the first processor 120 may utilize location information of the communication device 106 that is detected by a location sensor (not shown) of the communication device 106, to determine the preferred communication language. Further, the notification may be color-coded. In an example, the notification may be in red.
[0069] The first processor 120 may utilize the internet to determine the preferred communication language associated with the detected location or retrieve the preferred communication language from a mapping between the location and the preferred communication language that may be stored in the memory 122. The mapping between the location and the preferred communication language may be downloaded from the internet and stored in the memory 122 upon the registration of the payment mode 104 on the fraud prevention application. The first processor 120 may further compare the preferred communication language retrieved from the mapping with the preferred communication language determined from the stored historical details of the user 102. In an event of a mismatch, the first processor 120 may display the notification in the preferred communication language that is determined by way of the aforementioned steps.
[0070] In one scenario, the communication device 106 receives an audio call from the first entity 105 during the validity period of the OTP. An individual associated with the first entity 105 speaks to the user 102 on the audio call. The individual is posing as a bank employee and convincing the user 102 that the user 102 must share the OTP received on the communication device 106 with the individual on the audio call for verification of the first payment account of the user 102. In the meantime, the first processor 120 identifies that the first entity 105 is fraudulent and outputs a voice alert indicating “Do not share the OTP with the person you are on call with. The caller is fraudulent.” The individual associated with the first entity 105 is unable to hear the voice alert. Additionally, the first processor 120 outputs a pop-up message on the communication device 106 indicating “Do not share the OTP with the person you are on call with. The caller is fraudulent.” In another scenario, the communication device 106 receives an email from the first entity 105 during the validity period of the OTP. The email indicates to the user 102 to reply to the email by providing the OTP received on the communication device 106 on the email for verification of the first payment account of the user 102. In the meantime, the first processor 120 receives the indication from the one or more fraud detection applications indicating that the first entity 105 is fraudulent and outputs a flash message on the communication device 106. The flash message indicates “Do not share the OTP through any of a call, a message, and an email. The first entity 105 is fraudulent.” Additionally, the first processor 120 may output a voice alert in the preferred communication language indicating “Do not share the OTP through any of a call, a message, and an email. The first entity 105 associated with the email is fraudulent.” In yet another scenario, when the identifier of the first entity 105 is present in the contact list stored in the memory 122 and absent in the first fraudulent list stored in the memory 122, the notification may indicate the user 102 to exercise caution while communicating with the first entity 105. The user 102 may thus decide whether to share the OTP or refrain from sharing the OTP with the first entity 105.
[0071] The first processor 120 is further configured to monitor a plurality of applications installed on the communication device 106 during the validity period of the OTP. The plurality of applications may include a first application, a second application, a third application, …, and an nth application. In an example, the first application is a screen-sharing application, the second application is a screen recording application, the third application is a social media application, and the nth application is a video editing application. Further, the user 102 may add one or more applications of the plurality of applications to a set of whitelisted applications. The set of whitelisted applications may be stored in the memory 122. The process of addition of one or more applications of the plurality of applications to the set of whitelisted applications may be referred to as whitelisting. The set of whitelisted applications includes the applications that are trusted by the user 102. In an example, the set of whitelisted applications includes a banking application, a UPI application, and a digital wallet application that are known by the user 102.
[0072] The plurality of applications are monitored by the first processor 120 to detect a set of attempts by at least one of the plurality of applications to access a set of contents associated with the communication device 106. Contents associated with the communication device 106 refer to data stored in the communication device 106, data displayed on the communication device 106, and the data captured by the communication device 106 (such as audio data captured by a microphone (not shown) of the communication device 106). Further, the access is at least one of an access to read the set of contents, an access to record the set of contents, and an access to screen share the set of contents. In an example, the first application may attempt to activate screen-sharing on the communication device 106 during the validity period of the OTP. Further, the second application may attempt to activate screen recording on the communication device 106. The first processor 120 detects a first attempt of the first application to activate screen-sharing on the communication device 106 and a second attempt of the second application to activate screen recording on the communication device 106. Further, the first processor 120 may determine whether the first application and the second application are present in the set of whitelisted applications. In an embodiment, the first processor 120 blocks the access of the first application and the second application to the set of contents during the validity period of the OTP based on the determination that the first application and the second application are not present in the set of whitelisted applications. In another embodiment, the first processor 120 provides an option to the user 102 to either allow or deny the access of the set of contents to the first application and the second application on the display screen 130 of the communication device 106. The first processor 120 allows the access of the first application and the second application to the set of contents when the option to allow the access of the first application and the second application to the set of contents is selected by the user 102. The first processor 120 blocks the access of the first application and the second application to the set of contents when the option to decline the access of the first application to the set of contents is selected by the user 102. In another example, the first application may attempt to read text messages stored on the communication device 106 during the validity period of the OTP. The first processor 120 detects a first attempt of the first application to read the text messages. Further, the first processor 120 blocks the access of the first application to the text messages during the validity period of the OTP based on the determination that the first application is not present in the set of whitelisted applications.
[0073] When the notification is outputted, the first processor 120 may further render an option on the display screen 130 of the communication device 106 to the user 102, to select one of ‘accept the initiated financial transaction’ and ‘decline the initiated financial transaction’. Further, based on the selection of the option by the user 102, the first processor 120 transmits a third message to the secure server 108. When the option to accept the initiated financial transaction is selected by the user 102, the third message indicates the secure server 108 to allow the initiated financial transaction. When the option to decline the initiated financial transaction is selected by the user 102, the third message indicates the secure server 108 to decline the initiated financial transaction.
[0074] The first processor 120 is further configured to disable the set of input components 124 upon notifying the user 102 to refrain from sharing the OTP with the first entity 105. As the set of input components 124 is disabled, the user 102 is prevented from sharing the OTP with the first entity 105.
[0075] The memory 122 includes suitable logic, circuitry, and/or interfaces to store the set of instructions associated with the fraud prevention application, which when executed by the first processor 120, causes the first processor 120 to perform various operations for preventing fraudulent financial transactions. On installing the fraud prevention application on the communication device 106, the set of instructions associated with the fraud prevention application may be stored in the memory 122. The memory 122 may be further configured to store the historical details of the user 102 upon the registration of the payment mode 104 on the fraud prevention application. The historical details of the user 102 include the preferred communication language and the residential address of the user 102. The memory 122 may be further configured to store the contact list and the first fraudulent list. The memory 122 may be further configured to store the set of whitelisted applications. Examples of the memory 122 may include a random-access memory (RAM), a read-only memory (ROM), a programmable ROM (PROM), an erasable PROM (EPROM), a removable storage drive, a hard disk drive (HDD), a flash memory, a solid-state memory, or the like.
[0076] The set of input components 124 includes suitable logic, circuitry, and/or interfaces that are operable to execute one or more instructions stored in the memory 122 to perform one or more operations. The set of input components 124 may be configured to operate under the control of the first processor 120 by way of the first communication bus 128. For example, by means of the set of input components 124, the user 102 selects the option to accept or decline the initiated financial transaction. The set of input components 124 may include a first input component (not shown), a second input component (not shown), …, and an nth input component (not shown). In an example, the set of input components 124 may include a universal serial bus (USB) port, an Ethernet port, a real or virtual keyboard, a mouse, a joystick, a touch screen, a stylus, a microphone, and the like.
[0077] The set of output components 125 includes suitable logic, circuitry, and/or interfaces that are operable to execute one or more instructions stored in the memory 122 to perform one or more operations. The set of output components 125 may be configured to operate under the control of the first processor 120 by way of the first communication bus 128. For example, by means of the set of output components 125, the user 102 is notified to refrain from sharing the OTP with the first entity 105. The set of output components 125 may include a first output component (not shown), a second output component (not shown), …, and an nth output component (not shown). In an example, the set of output components 125 may include a speaker, headphones, the display screen 130, a universal serial bus (USB) port, an Ethernet port, and the like. The notification is displayed on the display screen 130 of the communication device 106. Further, the option to select one of accept the initiated financial transaction and decline the initiated financial transaction is rendered on the display screen 130 of the communication device 106. Examples of the display screen 130 may include, but are not limited to liquid crystal display (LCD), light-emitting diode (LED) display, organic LED (OLED) display, touchscreen display, Active Matrix Organic LED (AMOLED) display, or the like.
[0078] The network interface 126 includes suitable logic, circuitry, interfaces, and/or code, executable by the circuitry, to transmit and receive data over the communication network 118 using one or more communication network protocols. The network interface 126 transmits and receives communication requests and responses from various elements (such as the secure server 108, the acquirer server 110, the payment network server 112, the issuer server 114, the fraud detection server 115, and the first entity 105) in the system environment 100 through the communication network 118. Examples of the network interface 126 may include but are not limited to, an antenna, a radio frequency network interface, a wireless network interface, a Bluetooth network interface, an ethernet port, a Universal Serial Bus (USB) port, or any other device configured to transmit and receive data.
[0079] The secure server 108 is a server arrangement that includes suitable logic, circuitry, interface, and/or code executable by the circuitry, for securing financial transactions. The secure server 108 receives the first request for securing the financial transaction initiated by utilizing the payment mode 104. The first request is received upon the initiation of the financial transaction by the first entity 105.
[0080] Upon receiving the first request, the secure server 108 transmits a second request to the issuer server 114 for receiving OTP details for authenticating the financial transaction. The second request may include the financial transaction initiation details and a second indication requesting the OTP details. In an embodiment, the OTP details may include the OTP associated with the financial transaction, the contact information of the user 102, and the validity period of the OTP. The secure server 108 transmits the first message to the communication device 106 upon receiving the OTP details. The first message includes the OTP and the validity period of the OTP. The first message may further indicate the first processor 120 to monitor the communication device 106. In another embodiment, the OTP details may include the OTP associated with the financial transaction and the contact information of the user 102. The secure server 108 transmits the second message to the communication device 106 upon receiving the OTP details. The second message includes the OTP. The second message may further indicate the first processor 120 to monitor the communication device 106.
[0081] The secure server 108 further receives the third message from the first processor 120 of the communication device 106 in response to the first message. The secure server 108 is further configured to authenticate the financial transaction based on the third message received from the communication device 106. When the third message indicates the secure server 108 to allow the initiated financial transaction, the secure server 108 may allow the initiated financial transaction when the OTP entered for authenticating the initiated financial transaction matches the OTP shared by the secure server 108 with the communication device 106. When the third message indicates the secure server 108 to decline the initiated financial transaction, the secure server 108 may decline the initiated financial transaction. In a scenario, the user 102 may share the OTP with the first entity 105 and later notice the notification and the option to accept or decline the initiated financial transaction during the validity period of the OTP. Further, the user 102 may select the option to decline the initiated financial transaction. In such a scenario, even though the first entity 105 enters the OTP during the validity period of the OTP, the initiated financial transaction is declined as the third message indicates the secure server 108 to decline the initiated financial transaction.
[0082] The secure server 108 generates an authentication response based on the authentication of the financial transaction. The authentication response indicates that the authentication of the initiated financial transaction is successful when the OTP entered for authenticating the initiated financial transaction during the validity period of the OTP matches the OTP shared by the secure server 108 with the communication device 106. Alternatively, the authentication response indicates that the authentication of the initiated financial transaction has failed when at least one of the OTP entered for authenticating the initiated financial transaction does not match the OTP shared by the secure server 108 with the communication device 106, the OTP is not entered during the validity period of the OTP, and the third message indicates the secure server 108 to decline the initiated financial transaction. The secure server 108 transmits the authentication response and the financial transaction initiation details to the acquirer server 110 as described in the foregoing description.
[0083] The acquirer server 110 is a server arrangement which includes suitable logic, circuitry, interface, and/or code executable by the circuitry that may be configured to perform one or more operations for processing the financial transactions. The acquirer server 110 is operated by an acquirer associated with the financial transaction. The acquirer server 110 communicates with the secure server 108, the payment network server 112, and the issuer server 114 for processing the financial transactions. The acquirer may be a financial institution. Thus, a payment account of the recipient associated with the financial transaction (i.e., a “second payment account”) is maintained at the acquirer. The acquirer server 110 may be configured to receive the authentication response and the financial transaction initiation details from the secure server 108. Based on the received authentication response and the financial transaction initiation details, the acquirer server 110 further communicates with the payment network server 112 for processing the financial transaction. The acquirer server 110 identifies the payment network server 112 associated with the payment mode 104 and communicates with the payment network server 112 for processing the financial transaction.
[0084] The payment network server 112 may include suitable logic, circuitry, interfaces, and/or code, executable by the circuitry that may be configured to perform one or more operations for processing the financial transactions. The payment network server 112 is operated by a payment card association, a digital payment service provider, or the like. Examples of various payment card associations include MasterCard®, American Express®, VISA®, Discover®, Diners Club®, and the like. Examples of various digital payment service providers include PAYPAL®, APPLE PAY®, Google Pay®, PhonePe®, and the like. The payment network server 112 represents an intermediate entity between the issuer server 114 and the acquirer server 110 for processing the financial transactions. The payment network server 112 receives the authentication response and the financial transaction initiation details from the acquirer server 110. The payment network server 112 may verify the financial transaction initiation details. The payment network server 112 checks whether the payment mode details present in the financial transaction initiation details match the payment mode details stored in a memory (not shown) associated with the payment network server 112 for verifying the financial transaction initiation details. Further, the payment network server 112 generates a verification response based on the verification of the financial transaction initiation details. The verification response may indicate whether the verification of the financial transaction initiation details is successful or has failed. Further, the payment network server 112 transmits the authentication response and the verification response to the issuer server 114.
[0085] The issuer server 114 is a server arrangement that includes suitable logic, circuitry, interface, and/or code, executable by the circuitry, for processing various payment financial transactions. The issuer server 114 is operated by the issuer of the payment mode 104. The issuer is a financial institution that manages one or more payment accounts of various users such as the user 102. Details of the payment accounts established with the issuer are stored as account profiles in a memory (not shown) associated with the issuer server 114. The account profile of the user 102 may be indicative of a payment financial transaction history of the user 102, the payment mode details of the payment mode 104, the contact information of the user 102, or the like. The issuer server 114 is configured to receive the second request from the secure server 108. Further, the issuer server 114 is configured to generate the OTP for authenticating the financial transaction. The issuer server 114 may retrieve the contact information of the user 102 associated with the payment mode 104 from the memory associated with the issuer server 114. The contact information of the user 102 may be provided by the user 102 during the opening of the first payment account at the issuer. Further, the issuer server 114 transmits the OTP details to the secure server 108 in response to the second request. The OTP details include the OTP associated with the financial transaction, the contact information of the user 102, and the validity period of the OTP. In an embodiment, the issuer server 114 may determine the validity period of the OTP upon receiving the second request. In another embodiment, the validity period of the OTP may be predefined and stored in the memory associated with the issuer server 114. The issuer server 114 may retrieve the validity period of the OTP from the memory associated with the issuer server 114 upon receiving the second request.
[0086] The issuer server 114 may further receive the authentication response, the verification response, and the financial transaction initiation details from the payment network server 112. The issuer server 114 processes the financial transaction by approving or declining the financial transaction, based on the financial transaction initiation details, the verification response, and the authentication response. The issuer server 114 approves the financial transaction when the authentication response indicates successful authentication of the financial transaction, the verification response indicates that the verification of the financial transaction initiation details is successful, and the first payment account of the user 102 has sufficient funds. The issuer server 114 declines the financial transaction when the authentication response indicates failed authentication of the financial transaction, the verification response indicates failed verification of the financial transaction initiation details, and/or the first payment account of the user 102 has insufficient funds. Further, the issuer server 114 generates a fourth message based on the processing of the financial transaction. The fourth message indicates that the initiated financial transaction has been declined when the issuer server 114 declines the initiated financial transaction. The fourth message indicates that the initiated financial transaction is successful when the issuer server 114 approves the initiated financial transaction The fourth message is transmitted to the communication device 106 through the payment network server 112, the acquirer server 110, and the secure server 108.
[0087] The fraud detection server 115 includes suitable logic, circuitry, interfaces, and/or code, executable by the circuitry that may be configured to perform one or more operations for maintaining a second fraudulent list. In one embodiment, the fraud detection server 115 may be maintained by an entity that provides the one or more fraud detection applications. The fraud detection server 115 may be configured to store the second fraudulent list in a storage (not shown) associated with the fraud detection server 115. The fraud detection server 115 may generate the second fraudulent list by using various techniques that are apparent to those skilled in the art. The second fraudulent list may include telephone numbers, mobile phone numbers, email addresses, and the like. In one embodiment, the fraud detection server 115 may receive the identifier of the first entity 105 that is acquired and communicated by the first processor 120 to the fraud detection server 115. Further, the fraud detection server 115 determines whether the identifier of the first entity 105 is present in the second fraudulent list stored in the storage associated with the fraud detection server 115. The fraud detection server 115 communicates the first indication that specifies whether the first entity 105 is fraudulent to the first processor 120. The first processor 120 thus receives the first indication which indicates that the first entity 105 is identified to be fraudulent. In another embodiment, the one or more fraud detection applications detect whether the first entity 105 is fraudulent based on communication with the fraud detection server 115. The one or more fraud detection applications may detect the first entity 105 to be fraudulent based on presence of the identifier of the first entity 105 in the second fraudulent list stored in the storage associated with the fraud detection server 115 and communicate to the first processor 120 the indication that the first entity 105 is identified to be fraudulent.
[0088] Examples of the secure server 108, the acquirer server 110, the payment network server 112, the issuer server 114, and the fraud detection server 115 may include, but are not limited to, computers, laptops, mini-computers, mainframe computers, any non-transient and tangible machines that may execute a machine-readable code, cloud-based servers, distributed server networks, a network of computer systems, or a combination thereof.
[0089] The communication network 118 may be a medium through which content and messages are transmitted between the communication device 106, the secure server 108, the acquirer server 110, the payment network server 112, the issuer server 114, the fraud detection server 115, the first entity 105, and other entities that are pursuant to one or more standards for the interchange of financial transaction requests, such as the ISO8583 standard. Examples of the communication network 118 may include, but are not limited to, a wireless fidelity (Wi-Fi) network, a light fidelity (Li-Fi) network, a local area network (LAN), a wide area network (WAN), a metropolitan area network (MAN), a satellite network, the Internet, a fiber optic network, a coaxial cable network, an infrared (IR) network, a radio frequency (RF) network, and combinations thereof. Various entities in the system environment 100 may connect to the communication network 118 in accordance with various wired and wireless communication protocols, such as Transmission Control Protocol and Internet Protocol (TCP/IP), User Datagram Protocol (UDP), Long Term Evolution (LTE) communication protocols, or any combination thereof.
[0090] The database 132 includes suitable logic, circuitry, interfaces, and/or code, executable by the circuitry that may be configured to perform one or more operations for storing data. The database 132 may be maintained by at least one of the secure server 108, the acquirer server 110, the payment network server 112, the issuer server 114, an entity associated with fraud prevention application, or the like. The database 132 may be configured to store a mapping between a set of sender identifiers and a set of validity periods of OTP. The set of sender identifiers includes the identifier of the sender of the second message that is associated with the financial transaction initiated by the first entity 105. Examples of a sender identifier may include, but are not limited to, an identifier associated with one of HDFC BANK®, SBI®, ICICI®, AXIS BANK, or the like. Further, the set of validity periods include the validity period of the OTP associated with the initiated financial transaction. The first processor 120 fetches the validity period of the OTP from the database 132 based on the identifier of the sender of the second message. Examples of the database 132 may include but are not limited to, a personal computer, a laptop, a network of computer systems, a cloud server, or the like.
[0091] Although it is described that the payment mode 104 is registered on the fraud prevention application installed in the communication device 106, the scope of the present disclosure is not limited to it. In other embodiments, the payment mode 104 may be registered on the fraud prevention application installed in various devices associated with the user 102, without deviating from the scope of the present disclosure.
[0092] Although it is described that the payment mode 104 is registered on the fraud prevention application, the scope of the present disclosure is not limited to it. In other embodiments, various payment modes associated with the user 102 may be registered on the fraud prevention application, without deviating from the scope of the present disclosure.
[0093] Although it is described that one phone number and one email address are associated with the payment mode 104 and the communication device 106, the scope of the present disclosure is not limited to it. In other embodiments, various phone numbers and various email addresses may be associated with the payment mode 104 and the communication device 106, without deviating from the scope of the present disclosure.
[0094] Although it is described that the first message or the second message is received by the first processor 120 prior to receiving the first communication, the scope of the present disclosure is not limited to it. In other embodiments, the first processor 120 may receive the first communication prior to receiving the first message or the second message.
[0095] In some embodiments, the set of instructions associated with the fraud prevention application may be associated with a software development kit (SDK). Further, the SDK may be integrated with the digital wallet application and the UPI application for preventing fraudulent financial transactions. When the SDK is integrated with the digital wallet application, the system environment 100 may further include a wallet server (not shown). Further, the wallet server may facilitate communication between the secure server 108 and the communication device 106. When the SDK is integrated with the UPI application, the system environment 100 may further include a UPI server (not shown). Further, the UPI server may facilitate communication between the secure server 108 and the communication device 106.
[0096] In operation, the first entity 105 initiates the financial transaction by utilizing the payment mode details of the payment mode 104. The first entity 105 obtains the payment mode details by fraudulent means. In a scenario, a hidden recording device is installed in an ATM by the first entity 105 for stealing the payment mode details of the payment mode 104. The first entity 105 obtains the payment mode details when the payment mode 104 is used at the ATM for withdrawing cash by the user 102.
[0097] Upon initiation of the financial transaction, the secure server 108 receives the first request from a gateway server (not shown) associated with the initiated financial transaction for securing the initiated financial transaction. Further, the secure server 108 transmits the second request to the issuer server 114 for receiving the OTP details. The issuer server 114 receives the second request and generates the OTP for authenticating the initiated financial transaction. Based on the second request, the issuer server 114 retrieves the contact information of the user 102 associated with the payment mode 104 from the memory associated with the issuer server 114. The issuer server 114 transmits the OTP details to the secure server 108 in response to the second request. The OTP details include the OTP associated with the financial transaction, the contact information of the user 102, and the validity period of the OTP.
[0098] In an embodiment, the secure server 108 transmits the first message to the first processor 120 of the communication device 106 by utilizing the contact information of the user 102 or the network address of the communication device 106. Upon receiving the first message, the first processor 120 extracts the validity period of the OTP from the first message. In another embodiment, the secure server 108 transmits the second message to the first processor 120 of the communication device 106 by utilizing the contact information of the user 102 or the network address of the communication device 106. Upon receiving the second message, the first processor 120 extracts the details of the second message. Further, the first processor 120 analyzes the details of the second message to determine that the second message is an OTP message.
[0099] Upon determining that the second message is the OTP message, the first processor 120 identifies the identifier of the sender of the second message. Further, the first processor 120 fetches the validity period of the OTP from the database 132 based on the identifier of the sender of the second message.
[00100] Further, the first processor 120 receives the first communication from the first entity 105 during the validity period of the OTP. The first processor 120 monitors the plurality of communication channels of the communication device 106 during the validity period of the OTP to detect the reception of the first communication by way of the first communication channel with the first entity 105. In an example, the first processor 120 detects the first communication established by way of the call channel of the communication device 106. The first processor 120 outputs the notification on the communication device 106 during the validity period of the OTP. The first processor 120 may acquire the identifier of the first entity 105 and identify that the first entity 105 is fraudulent when the identifier of the first entity 105 is not present in the contact list stored in the memory 122. The first processor 120 may acquire the identifier of the first entity 105 and identify that the first entity 105 is fraudulent based on the reception of the first indication from the fraud detection server 115 indicating that the first entity 105 is fraudulent. The user 102 is thus notified to refrain from sharing the OTP with the first entity 105 by way of the notification based on the identification that the first entity 105 is fraudulent.
[00101] The notification indicates to the user 102 to refrain from sharing the OTP with the first entity 105, by way of at least one of the plurality of communication channels. In an example, the notification is a voice alert. The notification is outputted in a manner such that the first entity 105 is unaware of the outputted notification. The notification may be outputted in the preferred language selected by the user 102 during the registration of the payment mode 104 on the fraud prevention application or determined based on the geographical location of the communication device 106.
[00102] The first processor 120 further monitors the plurality of applications installed on the communication device 106 upon extracting the validity period of the OTP. The plurality of applications is monitored to detect the set of attempts by at least one of the plurality of applications to access the set of contents associated with the communication device 106 during the validity period of the OTP. Further, the first processor 120 detects the first attempt of the first application to access the set of contents. The first processor 120 determines whether the first application is present in the set of whitelisted applications. The first processor 120 blocks the access of the first application to the set of contents during the validity period of the OTP based on the determination that the first application is not present in the set of whitelisted applications or provides an option to the user 102 to either allow or deny the access of the set of contents to the first application on the display screen 130 of the communication device 106.
[00103] Upon notifying the user 102, the first processor 120 further renders the option on the display screen 130 of the communication device 106 to the user 102, to select either to accept the initiated financial transaction or decline the initiated financial transaction. The user 102 thus selects the option to decline the financial transaction based on the notification. When the option of ‘decline’ is selected by the user 102, the first processor 120 transmits the third message to the secure server 108. The third message indicates the secure server 108 to decline the initiated financial transaction. In some embodiments, upon notifying the user 102, the first processor 120 disables the set of input components 124.
[00104] The secure server 108 receives the third message from the first processor 120 of the communication device 106. As the third message indicates the secure server 108 to decline the initiated financial transaction, the secure server 108 declines the initiated financial transaction. Further, the secure server 108 generates the authentication response. The authentication response indicates that the authentication of the initiated financial transaction has failed. The secure server 108 transmits the authentication response and the financial transaction initiation details to the acquirer server 110.
[00105] The acquirer server 110 receives the authentication response and the financial transaction initiation details from the secure server 108. The acquirer server 110 identifies the payment network server 112 associated with the payment mode 104 and communicates the authentication response and the financial transaction initiation details to the payment network server 112. The acquirer server 110 further communicates with the payment network server 112 for communicating the authentication response and the financial transaction initiation details to the issuer server 114. The issuer server 114 receives the authentication response and the financial transaction initiation details from the payment network server 112. The issuer server 114 declines the financial transaction as the authentication response indicates failed authentication of the financial transaction and generates the third message. The issuer server 114 further transmits the third message to the communication device 106. The third message indicates that the initiated financial transaction is declined due to failure of authentication of the initiated financial transaction.
[00106] FIGS. 2A-2E collectively represent a pictorial representation of the notification outputted on the communication device 106 of the system environment 100 of FIG. 1, in accordance with an exemplary embodiment of the present disclosure.
[00107] Referring to FIG. 2A, a flash message as the notification is shown in accordance with an exemplary embodiment of the present disclosure. The flash message is displayed on the display screen 130 of the communication device 106. The flash message is “Please do not share OTP with the person on call. The caller is not on your contact list.” The notification is displayed when the identifier of the first entity 105 is not present in the contact list stored in the memory 122. In an embodiment, a template of the flash message is stored in the memory 122 of the communication device 106. Further, when the first processor 120 identifies that the identifier of the first entity 105 is not present in the contact list stored in the memory 122, the first processor 120 retrieves template of the flash message the memory 122 for displaying the flash message. The first processor 120 further displays the flash message on the display screen 130 of the communication device 106. In another embodiment, the first processor 120 generates the flash message upon the identification that the identifier of the first entity 105 is not present in the contact list stored in the memory 122.
[00108] Referring now to FIG. 2B, a voice alert as the notification is shown in accordance with an exemplary embodiment of the present disclosure. The communication device 106 further includes a speaker 202. The voice alert is played through the speaker 202 of the communication device 106. The voice alert that is played is “Do not share OTP with the person on call. The caller is fraudulent”. The notification is played when the identifier of the first entity 105 is not present in the contact list and present in the first fraudulent list. In an embodiment, content of the voice alert is stored in the memory 122 of the communication device 106. The first processor 120 thus retrieves the content of the voice alert from the memory 122. In another embodiment, the first processor 120 generates the voice alert upon the identification that the identifier of the first entity 105 is not present in the contact list and present in the first fraudulent list of the communication device 106.
[00109] Now referring to FIG. 2C, a pop-up message as the notification is shown in accordance with the exemplary embodiment of the present disclosure. The pop-up message is displayed on the display screen 130 of the communication device 106. The pop-up message is “Alert: Please do not share OTP with the person on call. The caller is not on your contact list.” The notification is displayed when the identifier of the first entity 105 is not present in the contact list stored in the memory 122. In an embodiment, the template of the pop-up message is stored in the memory 122 of the communication device 106. The first processor 120 thus retrieves the template of the pop-up message from the memory 122. The first processor 120 further displays the pop-up message on the display screen 130 of the communication device 106. In another embodiment, the first processor 120 generates the pop-up message upon the identification that the identifier of the first entity 105 is not present in the contact list stored in the memory 122.
[00110] Now referring to FIG. 2D, a text message as the notification is shown in accordance with the exemplary embodiment of the present disclosure. The text message is “Please do not share OTP, you are on call.” The notification is displayed when the identifier of the first entity 105 is not present in the contact list stored in the memory 122. In an embodiment, the template of the text message is stored in the memory 122 of the communication device 106. The first processor 120 thus retrieves the template of the text message from the memory 122. The first processor 120 further displays the text message on the display screen 130. In another embodiment, the first processor 120 generates the text message upon the identification that the identifier of the first entity 105 is not present in the contact list stored in the memory 122.
[00111] Now referring to FIG. 2E, an email as the notification is shown in accordance with the exemplary embodiment of the present disclosure. The email is displayed on the display screen 130 of the communication device 106. The email is “Dear XXX, Please do not share your OTP with the person on call. The caller identified is not in your contact list.” The notification is displayed when the identifier of the first entity 105 is absent in the contact list. In an embodiment, a template of the email is stored in the memory 122 of the communication device 106. The first processor 120 thus retrieves the template of the email from the memory 122. The first processor 120 further displays the email on the display screen 130 of the communication device 106. In another embodiment, the first processor 120 generates the email upon the identification that the identifier of the first entity 105 is absent in the contact list. The notifications illustrated in FIGS. 2A-2E are for illustration purposes only and is, therefore, not intended to necessarily limit the scope of the present disclosure.
[00112] FIG. 2F represents a pictorial representation of the option rendered on the display screen 130 of the communication device 106 of the system environment 100 of FIG. 1, in accordance with an exemplary embodiment of the present disclosure. The option is rendered on the display screen 130 upon outputting the notification. A message may be rendered on the display screen 130 that displays “A financial transaction initiated for a transfer of Rs. 20,000 has been identified. Please click on ‘Accept’ to accept the initiated financial transaction and click on ‘Decline’ to decline the initiated financial transaction.” Further, the option to ‘Accept’ and the option to ‘Decline’ are displayed on the display screen 130. The message is displayed when the first communication established with the first entity 105 is detected by the first processor 120. In an embodiment, a template of the message is stored in the memory 122 of the communication device 106. The first processor 120 retrieves the template of the message from the memory 122. The first processor 120 further modifies the retrieved template and displays the message on the display screen 130. In another embodiment, the first processor 120 generates the message upon the detection of the establishment of the first communication with the first entity 105. Further, the user 102 may select one of the options to ‘Accept’ and ‘Decline’ through the at least one of the set of input components 124. Based on the selection by the user 102, the first processor 120 transmits the third message to the secure server 108.
[00113] FIGS. 3A-3E, collectively, represent a process flow diagram 300 that illustrates an exemplary method to monitor fraudulent activity in the communication device 106 during the financial transaction that is initiated using the payment mode 104 associated with the communication device 106 of the system environment 100 of FIG. 1, in accordance with an exemplary embodiment of the present disclosure.
[00114] Referring to FIG. 3A, the user 102 performs the registration process to register the payment mode 104 on the fraud prevention application by entering the payment mode details through the user interface provided on the communication device 106 (as shown by arrow 302). The payment mode details are authenticated by the secure server 108 and the issuer server 114 for the registration of the payment mode 104. The first entity 105 initiates the financial transaction by utilizing the payment mode details of the payment mode 104 (as shown by arrow 304). In an example, the first entity 105 steals the payment mode details through data theft. When the financial transaction is initiated by the first entity 105, the secure server 108 receives the financial transaction initiation details from the first entity 105. In other words, the secure server 108 receives the financial transaction initiation details from the payment gateway. The financial transaction is initiated by the remote entity through the payment gateway. Further, the secure server 108 identifies the issuer associated with the payment mode 104 on receiving the financial transaction initiation details. The secure server 108 requests the OTP details from the issuer server 114 that is associated with the identified issuer (as shown by arrow 306). The secure server 108 receives the OTP details from the issuer server 114 in response to the request for the OTP details (as shown by arrow 308). The first processor 120 of the communication device 106 receives the first message that includes the validity period of the OTP, from the secure server 108 (as shown by arrow 310a).
[00115] Referring now to FIG. 3B, the first processor 120 of the communication device 106 extracts the validity period from the first message (as shown by arrow 312a). Referring back to FIG. 3A, the first processor 120 of the communication device 106 receives the second message that includes the OTP, from the secure server 108 (as shown by arrow 310b). Referring again to FIG. 3B, the first processor 120 of the communication device 106 extracts the details of the second message (as shown by arrow 312b). Further, the first processor 120 analyzes the details of the second message to determine that the second message is the OTP message (as shown by arrow 312c). The first processor 120 further identifies the identifier of the sender of the second message upon the determination that the second message is the OTP message (as shown by arrow 312d). Further, the first processor 120 fetches the validity period of the OTP from the database 132 based on the identifier of the sender of the second message (as shown by arrow 312e). In one embodiment, the process steps shown by arrows 310a and 310b are performed by the first processor 120 for obtaining the validity period of the OTP when the first message that includes the OTP validity period is received by the first processor 120. In another embodiment, the process steps shown by arrow 310b, arrow 312b, arrow 312c, arrow 312d, and arrow 312e are performed by the first processor 120 for obtaining the validity period of the OTP when the second message that includes the OTP is received by the first processor 120.
[00116] Referring now to FIG. 3C, the first processor 120 of the communication device 106 receives the first communication from the first entity 105 (as shown by arrow 313). Further, the first processor 120 of the communication device 106 monitors the plurality of communication channels of the communication device 106 during the validity period to detect the reception of the first communication by way of the first communication channel (as shown by arrow 314). Further, the first processor 120 monitors the plurality of applications installed on the communication device 106 to detect the set of attempts by at least one of the plurality of applications to access the set of contents during the validity period (as shown by arrow 316). The first processor 120 further determines whether at least one of the plurality of applications attempting to access the set of contents is present in the set of whitelisted applications (as shown by arrow 318). The first processor 120 detects that the first application is attempting to access the set of contents and determines that the first application is not present in the set of whitelisted applications.
[00117] Based on the determination that the first application is not present in the set of whitelisted applications, i.e., the first application is absent from the set of whitelisted applications, the first processor 120 blocks the access of the first application to the set of contents (as shown by arrow 320).
[00118] Referring now to FIG. 3D, The first processor 120 of the communication device 106 further notifies the user 102 to refrain from sharing the OTP with the first entity 105 by way of the notification (as shown by arrow 321). In an embodiment, the first processor 120 notifies the user 102 on detecting the reception of the first communication. In another embodiment, the first processor 120 acquires the identifier of the first entity 105 to identify that the first entity 105 is fraudulent on detecting the first communication. The first entity 105 is identified to be fraudulent when the identifier of the first entity 105 is at least one of absent in the contact list and present in the first fraudulent list and/or the second fraudulent list. In an embodiment, the first processor 120 disables the set of input components 124 of the communication device 106 upon notifying the user 102 (as shown by arrow 323).
[00119] In another embodiment, the first processor 120 of the communication device 106 renders options to the user 102 to select one of accept or decline the initiated financial transaction (as shown by arrow 322). The options are rendered on the display screen 130. The user 102 selects one of accept or decline the initiated financial transaction (as shown by arrow 324). The first processor 120 of the communication device 106 transmits the third message based on the selected option to the secure server 108 (as shown by arrow 326). The secure server 108 on receipt of the third message authenticates the initiated financial transaction (as shown by arrow 328). When the option to accept the initiated financial transaction is selected by the user 102, the third message indicates the secure server 108 to allow the initiated financial transaction. The secure server 108 allows the initiated financial transaction when the OTP entered for authenticating the initiated financial transaction matches the OTP shared by the secure server 108 with the communication device 106. The authentication of the initiated financial transaction is successful when the OTP entered for authenticating the initiated financial transaction matches the OTP shared by the secure server 108 to the communication device 106. When the option to decline the initiated financial transaction is selected by the user 102, the third message indicates the secure server 108 to decline the initiated financial transaction. Thus, the authentication of the initiated financial transaction fails. Further, the secure server 108 generates the authentication response based on the authentication of the initiated financial transaction (as shown by arrow 330). The authentication response indicates whether the authentication is successful or has failed. The secure server 108 transmits the authentication response and the financial transaction initiation details to the acquirer server 110 (as shown by arrow 332).
[00120] Referring now to FIG. 3E, the acquirer server 110 transmits the authentication response and the financial transaction initiation details to the payment network server 112 (as shown by arrow 334). The payment network server 112 further transmits the authentication response and the financial transaction initiation details to the issuer server 114 (as shown by arrow 336). The issuer server 114 allows or declines the initiated financial transaction based on the authentication response and the financial transaction initiation details (as shown by arrow 338). The issuer server 114 allows the initiated financial transaction when the authentication response indicates successful authentication of the initiated financial transaction, the verification response indicates that the verification of the financial transaction initiation details is successful, and the first payment account of the user 102 has sufficient funds. The issuer server 114 declines the initiated financial transaction when at least one of the authentication response indicates failed authentication of the initiated financial transaction, the verification response indicates failed verification of the financial transaction initiation details by the issuer server 114, and the first payment account of the user 102 has insufficient funds.
[00121] The issuer server 114 transmits the fourth message to the payment network server 112 (as shown by arrow 340). The fourth message indicates that the financial transaction is successful when the initiated financial transaction is allowed by the issuer server 114. The fourth message indicates that the initiated financial transaction has been declined when the initiated financial transaction is declined by the issuer server 114. Further, the payment network server 112 transmits the fourth message to the acquirer server 110 (as shown by arrow 342). The acquirer server 110 further transmits the fourth message to the secure server 108 (as shown by arrow 344). The secure server 108 transmits the fourth message further to the communication device 106 (as shown by arrow 346). The user 102 is thereby informed the status of the financial transaction.
[00122] FIGS. 4A-4E collectively represent a flowchart 400 that illustrates a method (i.e., a process) to monitor fraudulent activity in the communication device 106 during the financial transaction that is initiated using the payment mode 104 associated with the communication device 106 of the system environment 100 of FIG. 1, in accordance with an exemplary embodiment of the present disclosure.
[00123] Referring to FIG. 4A, in one embodiment, the process may start at step 402a. At step 402a, the first message is received by the first processor 120 from the secure server 108. The financial transaction is initiated by the first entity 105 utilizing the payment mode details of the payment mode 104. Further, the financial transaction initiation details are received by the secure server 108. The OTP details are requested by the secure server 108 from the issuer server 114. In response, the OTP details are received by the secure server 108 from the issuer server 114 and transmitted by way of the first message to the communication device 106. The first message includes the validity period of the OTP associated with the initiated financial transaction. At step 404a, the validity period of the OTP is extracted from the first message by the first processor 120. In another embodiment, the process may start at step 402b. At step 402b, the second message is received by the first processor 120 from the secure server 108. The financial transaction is initiated by the first entity 105 utilizing the payment mode details of the payment mode 104. Further, the financial transaction initiation details are received by the secure server 108. The OTP details are requested by the secure server 108 from the issuer server 114. In response, the OTP details are received by the secure server 108 from the issuer server 114 and transmitted by way of the first message to the communication device 106. The second message includes the OTP associated with the initiated financial transaction. At step 404b, the details of the second message are extracted from the second message by the first processor 120. At step 404c, the extracted details of the second message are analyzed by the first processor 120 to determine that the second message is the OTP message. At step 404d, the identifier of the sender of the second message is identified by the first processor 120 based on the determination that the second message is the OTP message. At step 404e, the validity period of the OTP is fetched by the first processor 120 from the database 132. Thus, in one embodiment, steps 402a and 404a are performed by the first processor 120 to obtain the validity period of the OTP and in another embodiment, steps 402b, 404b, 404c, 404d, and 404e are performed by the first processor 120 to obtain the validity period of the OTP. The process proceeds to step 405 after execution of step 404a or step 404e.
[00124] Referring to FIG. 4B, at step 405, the first communication is received by the first processor 120 from the first entity 105. The first communication is received by way of the first communication channel of the plurality of communication channels. At step 406, the plurality of communication channels of the communication device 106 are monitored by the first processor 120 during the validity period to detect the first communication established with the first entity 105 by way of the first communication channel. The plurality of communication channels include the call channel, the text message channel, the screen-sharing platform, and the email channel. In an embodiment, the process proceeds to step 407. At step 407, the identifier of the first entity 105 is acquired by the first processor 120 upon the detection of the first communication. The identifier of the first entity 105 is one of a telephone number, a mobile phone number, an email address, a numerical value, an alphabetical value, and an alphanumerical value, based on the type of the first communication. At step 408a, the first entity 105 is identified to be fraudulent by the first processor 120. The first processor 120 checks whether the identifier of the first entity 105 is present in the first fraudulent list and/or absent in the contact list to identify that the first entity 105 is fraudulent. The first entity 105 is identified to be fraudulent when the identifier of the first entity 105 is not present in the contact list and/or present in the first fraudulent list. At step 408b, the first indication that the first entity 105 is fraudulent is received by the first processor 120. The first processor 120 receives the first indication that the first entity 105 is fraudulent from the fraud detection application installed on the communication device 106 or the fraud detection server 115. The first indication is received based on the acquiring of the identifier of the first entity 105 and communication of the identifier to the fraud detection server 115. Either step 408a or step 408b occurs after step 407. In another embodiment, the process proceeds to step 410 after execution of step 406. In yet another embodiment, the process proceeds to step 422 after execution of step 406. The process proceeds to step 410 after the execution of step 408a or step 408b.
[00125] Referring to FIG. 4C, at step 410, the plurality of applications installed on the communication device 106 are monitored by the first processor 120 during the validity period to detect the set of attempts by at least one of the plurality of the applications to the set of contents associated with the communication device 106. At step 412, it is determined whether at least one of the plurality of applications attempting to access the set of contents is present in the set of whitelisted applications by the first processor 120. If it is determined that the first application attempting to access the set of contents is present in the set of whitelisted applications, the process proceeds to step 422. If it is determined that the first application attempting to access the set of contents is not present in the set of whitelisted applications, the process proceeds to step 414 or step 416.
[00126] Referring to FIG. 4D, at step 414, the access of the first application to the set of contents is blocked by the first processor 120 based on the determination that first application is absent in the set of whitelisted applications. Further, the process proceeds to step 422. At step 416, the option for the user 102 to allow or deny the access of the set of contents to the first application is provided by the first processor 120 on the display screen 130.
[00127] At step 418, it is determined whether the selected option is “allow”, by the first processor 120. If the selected option is to decline the access of the set of contents to the first application, the process proceeds to step 414. If the selected option is to allow the access of the set of contents to the first application, the process proceeds to step 420. At step 420, the access of the set of contents is granted by the first processor 120, to the first application.
[00128] Referring to FIG. 4E, at step 422, the preferred communication language of the user 102 to output the notification is determined by the first processor 120. The processor determines the preferred communication language of the user 102 based on at least one of the historical details of the user 102 and a current geographical location of the user 102. At step 424, the user 102 is notified to refrain from sharing the OTP with the first entity 105 communication device 106 by the first processor 120, by way of the notification. The notification is in the preferred communication language of the user 102. The notification is at least one of a voice alert, a text message, a flash message, a pop-up message, and an email. At step 426a, the option for the user 102 to select either to accept or decline the initiated financial transaction is rendered on the display screen 130 of the communication device 106, by the first processor 120. At step 426b, the set of input components 124 of the communication device 106 is disabled by the first processor 120 upon notifying the user 102. Either step 426a or step 426b occurs after step 424. The process proceeds to step 428 after the execution of step 426a.
[00129] At step 428, the third message is transmitted to the secure server 108 by the first processor 120 based on the selected option to accept or decline the initiated financial transaction. The third message indicates the secure server 108 to allow the initiated financial transaction when the option to accept the initiated financial transaction is selected by the user 102. Further, the third message indicates the secure server 108 to decline the initiated financial transaction when the option to decline the initiated financial transaction is selected by the user 102. At step 430, the fourth message is received by the first processor 120 from the secure server 108. The fourth message indicates that the financial transaction has been successful or declined based on the authentication of the initiated financial transaction.
[00130] FIG. 5 represents a high-level flowchart 500 that illustrates a method to monitor fraudulent activity in the communication device 106 during the financial transaction that is initiated using the payment mode 104 associated with the communication device 106 the system environment 100 of FIG. 1, in accordance with an exemplary embodiment of the present disclosure.
[00131] At step 502, the first communication is received by the first processor 120 of the communication device 106 from the first entity 105 during the validity period of the OTP. The first communication is received by way of the first communication channel of the plurality of communication channels of the communication device 106. financial transaction
[00132] At step 504, the plurality of communication channels of the communication device 106 are monitored during the validity period to detect the reception of the first communication, by the first processor 120. The plurality of communication channels include the call channel, the text message channel, the screen-sharing platform, and the email channel. The first communication is one of the audio call, the text message, communication initiated by way of the screen-sharing platform, and the email.
[00133] At step 506, the user 102 is notified to refrain from sharing the OTP with the first entity 105 during the validity period based on the identification that the first entity 105 is fraudulent, by way of the notification. The notification is at least one of the voice alert, the text message, the pop-up message, the flash message, and the email.
[00134] FIG. 6 is a block diagram that illustrates a system architecture of a computer system 600 of the system environment 100 of FIG. 1, in accordance with an exemplary embodiment of the present disclosure. An embodiment of disclosure, or portions thereof, may be implemented as computer-readable code on the computer system 600. In one example, the communication device 106, the secure server 108, the acquirer server 110, the payment network server 112, the issuer server 114, and the first entity 105 may be implemented as the computer system 600. Hardware, software, or any combination thereof may embody modules and components used to implement the methods of FIGS. 4A-4D and 5. The computer system 600 may include a second processor 602, a communication infrastructure 604, a main memory 606, a secondary memory 608, a second input/output (I/O) interface 610, and a communication interface 612.
[00135] The second processor 602 may be a special-purpose or a general-purpose processing device. The second processor 602 may be a single processor, multiple processors, or combinations thereof. Further, the second processor 602 may be connected to the communication infrastructure 604, such as a bus, message queue, multi-core message-passing scheme, and the like. In an example, the first processor 120 corresponds to the second processor 602.
[00136] The main memory 606 may be configured to store instructions that facilitate various operations described in conjunction with FIGS. 4A-4D and 5. Examples of the main memory 606 may include a RAM, a ROM, and the like. The secondary memory 608 may include an HDD or a removable storage drive, such as a floppy disk drive, a magnetic tape drive, a compact disc, an optical disk drive, a flash memory, and the like. In an embodiment, the removable storage drive may be a non-transitory computer-readable medium. In an example, the memory 122 corresponds to the main memory 606.
[00137] The input/output (I/O) interface 610 includes various input and output devices that are configured to communicate with the second processor 602. Examples of the input devices may include a keyboard, a mouse, a joystick, a touchscreen, a microphone, and the like. Examples of the output devices may include a display screen, a speaker, headphones, and the like. The communication interface 612 may be configured to allow data to be transferred between the computer system 600 and various devices that are communicatively coupled to the computer system 600. Examples of the communication interface 612 may include a modem, a network interface, i.e., an Ethernet card, a communication port, and the like. Data transferred via the communication interface 612 may correspond to signals, such as electronic, electromagnetic, optical, or other signals as will be apparent to a person skilled in the art. In an example, the set of input components 124 and the set of output components 125 correspond to the I/O interface 610.
[00138] The present invention may be implemented in numerous ways including as a method or a computer program product such as a computer-readable storage medium or a computer network wherein programming instructions are communicated from a remote location.
[00139] In various other embodiments, the present disclosure may suitably be embodied as a computer program product for use with the computer system 600. The method described herein is typically implemented as a computer program product that includes a non-transitory computer-readable medium. The non-transitory computer-readable medium stores instructions that are executed or translated by the computer system 600 or any other similar device. In other words, the instructions stored in the non-transitory computer-readable medium are translatable by the first processor 120 associated with the communication device 106 to perform operations for preventing fraudulent financial transactions. The instructions may be a series of computer-readable codes stored on a tangible medium that may be the non-transitory computer-readable medium. The tangible medium may be a computer-readable storage medium (such as the main memory 606 or the secondary memory 608), for example, diskette, Compact Disc-Read Only Memory (CD-ROM), ROM, flash drives or hard disk, or transmittable to the computer system 600, via a modem or other interface device, over either a tangible medium, including but not limited to optical or analogue communication interface. The implementation of the disclosure as a computer program product may be in an intangible form using wireless techniques, including but not limited to microwave, infrared, Bluetooth or other transmission techniques. These instructions can be preloaded into a system or recorded on a storage medium such as a CD-ROM, or made available for downloading over a network such as the Internet or a mobile telephone network. The series of computer-readable instructions may embody all or part of the functionality previously described herein.
[00140] Embodiments in the present disclosure provide the system environment 100 and method for preventing fraudulent financial transactions. The first processor 120 is able to detect the first communication established with the first entity 105 by monitoring various communication channels (such as the call channel, the text message channel, the screen-sharing platform, and the email channel) of the communication device 106. Based on the identifier of the first entity 105, the first processor 120 notifies the user 102 to refrain from sharing the OTP with the first entity 105. As a result, the user 102 is alerted that the first entity 105 is fraudulent. The user 102 may thus choose to refrain from sharing the OTP with the first entity 105. For the convenience of the user 102, the notification is in a preferred communication language of the user 102. The preferred communication language is determined based on either of geographical location of the user 102 and historical details of the user 102. The notification may be further outputted through multiple communication channels thereby capturing the attention of the user 102. The user 102 is further provided with the option to select one of “accept” or “decline” the initiated financial transaction through the notification as an additional precautionary measure to decline the financial transaction in an event that the OTP is obtained by the first entity 105 by fraudulent means. The communication device 106 further blocks access of some of the applications to the contents of the communication device 106 during the validity period when the applications are not present in the set of whitelisted applications. Thus, the applications that may be malicious are unable to obtain sensitive user information (such as OTP) during the validity period.
[00141] Techniques consistent with the present disclosure provide, among other features, method for prevention of fraudulent financial transactions. In the claims, the words ‘comprising’, ‘including’ and ‘having’ do not exclude the presence of other elements or steps then those listed in a claim. The terms “a” or “an,” as used herein, are defined as one or more than one. Unless stated otherwise, terms such as “first” and “second” are used to arbitrarily distinguish between the elements such terms describe. Thus, these terms are not necessarily intended to indicate temporal or other prioritization of such elements. The fact that certain measures are recited in mutually different claims does not indicate that a combination of these measures cannot be used to advantage.
[00142] While various embodiments of the present disclosure have been illustrated and described, it will be clear that the present disclosure is not limited to these embodiments only. Numerous modifications, changes, variations, substitutions, and equivalents will be apparent to those skilled in the art, without departing from the spirit and scope of the present disclosure, as described in the claims. , Claims:We claim:
1. A method to monitor fraudulent activity in a communication device (106) during a financial transaction that is initiated using a payment mode (104) associated with the communication device (106), the method comprising:
receiving, by a processor (120) of the communication device (106), a first communication from a first entity (105) during a validity period of a one-time password (OTP) associated with the financial transaction;
monitoring, by the processor (120), a plurality of communication channels of the communication device (106) during the validity period to detect the reception of the first communication by way of a first communication channel of the plurality of communication channels; and
notifying, by the processor (120), during the validity period, a user (102) of the communication device (106) to refrain from sharing the OTP with the first entity (105) through at least one of the plurality of communication channels based on identification that the first entity (105) is fraudulent, by way of a notification.

2. The method as claimed in claim 1, comprising:
receiving, by the processor (120), a first message that comprises the validity period of the OTP associated with the financial transaction; and
extracting, by the processor (120), the validity period from the first message, wherein the processor (120) monitors the plurality of communication channels during the validity period.

3. The method as claimed in claim 1, comprising:
receiving, by the processor (120), a second message that comprises the OTP associated with the financial transaction;
extracting, by the processor (120), details of the second message;
analyzing, by the processor (120), the details of the second message to determine that the second message is an OTP message;
identifying, by the processor (120), an identifier of a sender of the second message upon the determination that the second message is the OTP message; and
fetching, by the processor (120), the validity period of the OTP from a database (132) based on the identifier of the sender, wherein the processor (120) monitors the plurality of communication channels during the validity period.

4. The method as claimed in claim 1, comprising:
monitoring, by the processor (120), a plurality of applications installed on the communication device (106) to detect a set of attempts by at least one of the plurality of applications to access a set of contents associated with the communication device (106), during the validity period, wherein the access is at least one of an access to read the set of contents, an access to record the set of contents, and an access to screen share the set of contents;
determining, by the processor (120), whether at least one of the plurality of applications attempting to access the set of contents is present in a set of whitelisted applications; and
blocking, by the processor (120), access of a first application of the plurality of applications to the set of contents during the validity period, based on the determination that the first application is absent in the set of whitelisted applications.

5. The method as claimed in claim 1, comprising:
rendering, by the processor (120), an option on a display screen (130) of the communication device (106) to the user (102), to select one of (i) accept the initiated financial transaction and (ii) decline the initiated financial transaction, upon notifying the user (102); and
transmitting, by the processor (120), a third message to a server (108) associated with the initiated financial transaction, wherein when the option to accept the initiated financial transaction is selected by the user (102), the third message indicates the server (108) to allow the initiated financial transaction, and when the option to decline the initiated financial transaction is selected by the user (102), the third message indicates the server (108) to decline the initiated financial transaction.

6. The method as claimed in claim 1, comprising:
acquiring, by the processor (120) upon the detection of the reception of the first communication, an identifier of the first entity (105) to identify that the first entity (105) is fraudulent, wherein the first entity (105) is identified to be fraudulent when the identifier of the first entity (105) is at least one of (i) absent in a contact list stored in a memory (122) associated with the communication device (106), and (ii) present in a fraudulent list in the memory (122).

7. The method as claimed in claim 1, comprising:
acquiring, by the processor (120) on detecting the reception of the first communication, an identifier of the first entity (105); and
receiving, by the processor (120) based on the identifier that is acquired, an indication that the first entity (105) is identified to be fraudulent.

8. The method as claimed in claim 1, comprising:
disabling, by the processor (120), a set of input components (124) of the communication device (106) upon notifying the user (102).

9. The method as claimed in claim 1, wherein the plurality of communication channels include a call channel, a text message channel, a screen-sharing platform, and an email channel, and wherein the first communication is one of an audio call, a text message, communication initiated by way of the screen-sharing platform, and an email.

10. The method as claimed in claim 1, wherein the notification is at least one of a voice alert, a pop-up message, an email, a flash message, and a text message.

11. The method as claimed in claim 1, comprising:
determining, by the processor (120), a preferred communication language of the user (102) based on stored historical details of the user (102), wherein the notification is in the preferred communication language.

12. A communication device (106) comprising:
a processor (120) configured to:
receive a first communication from a first entity (105) during a validity period of a one-time password (OTP) associated with a financial transaction that is initiated using a payment mode (104), wherein the payment mode (104) is associated with the communication device (106);
monitor a plurality of communication channels of the communication device (106) during the validity period to detect the reception of the first communication by way of a first communication channel of the plurality of communication channels; and
notify during the validity period, a user (102) of the communication device (106) to refrain from sharing the OTP with the first entity (105) through at least one of the plurality of communication channels based on identification that the first entity (105) is fraudulent, by way of a notification.

13. The communication device (106) as claimed in claim 12, wherein the processor (120) is configured to:
receive, a first message that comprises the validity period of the OTP associated with the financial transaction; and
extract, the validity period from the first message, wherein the processor (120) monitors the plurality of communication channels during the validity period.

14. The communication device (106) as claimed in claim 12, wherein the processor (120) is configured to:
receive, a second message that comprises the OTP associated with the financial transaction;
extract, details of the second message;
analyze, the details of the second message to determine that the second message is an OTP message;
identify, an identifier of a sender of the second message upon the determination that the second message is the OTP message; and
fetch, the validity period of the OTP from a database (132) based on the identifier of the sender, wherein the processor (120) monitors the plurality of communication channels during the validity period.