Blockchain-Based Solution for Detecting and Preventing Fake Check Scams

Fake check scam is one of the most common attacks used to commit fraud against consumers. This fraud is particularly costly for victims because they generally lose thousands of dollars as well as being exposed to judicial proceedings. Currently, there is no existing solution to authenticate checks a...

Full description

Saved in:
Bibliographic Details
Published inIEEE transactions on engineering management Vol. 69; no. 6; pp. 3710 - 3725
Main Authors Hammi, Badis, Zeadally, Sherali, Adja, Yves Christian Elloh, Giudice, Manlio Del, Nebhen, Jamel
Format Journal Article
LanguageEnglish
Published New York IEEE 01.12.2022
The Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Institute of Electrical and Electronics Engineers
Subjects
Authentication
Bank fraud
Banking
Blockchain
Computer Science
Cryptography
fake check
hyperledger fabric
integrity
namecoin
Protocols
Security
Authentication
Blockchain
Fake check
Hyper-ledger Fabric
scam
Namecoin
Security
Integrity
Online AccessGet full text

Cover

More Information
Summary:Fake check scam is one of the most common attacks used to commit fraud against consumers. This fraud is particularly costly for victims because they generally lose thousands of dollars as well as being exposed to judicial proceedings. Currently, there is no existing solution to authenticate checks and detect fake ones instantly. Instead, banks must wait for a period of more than 48 h to detect the scam. In this context, we propose a blockchain-based scheme to authenticate checks and detect fake check scams. Moreover, our approach allows the revocation of used checks. More precisely, our approach helps the banks to share information about provided checks and used ones, without exposing the banks' customers' personal data. We demonstrate a proof of concept of our proposed approach using Namecoin and Hyperledger blockchain technologies.
ISSN:0018-9391
1558-0040
DOI:10.1109/TEM.2021.3087112