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Blockchain-Based Solution for Detecting and Preventing Fake Check Scams

2021; Institute of Electrical and Electronics Engineers; Volume: 69; Issue: 6 Linguagem: Inglês

10.1109/tem.2021.3087112

1558-0040

Badis Hammi, Sherali Zeadally, Yves Christian Elloh Adja, Manlio Del Giudice, Jamel Nebhen,

User Authentication and Security Systems

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.