CHICAGO, Feb. 25, 2011 /PRNewswire/ -- The threat of counterfeit documents and identity theft is increasing. Innovations in lasers and optical scanners have made it easy for counterfeiters to create fraudulent documents, including authentic-looking bank checks among many types of documents. It has become almost impossible for banks and merchants to be able to detect fraudulent bank checks. Additionally, criminals create fraudulent identity documents such as driver's licenses, ID cards, airline boarding passes and much more. At present, criminals can easily create perfect counterfeit documents to suit their many criminal purposes. For example, an original bank check can be scanned by a hand scanner at a check cashing store and a criminal can create thousands of fraudulent bank checks that appear to be perfectly authentic. This is the problem addressed by Thomas R. Chapman's counterfeit document detection system which will be auctioned at ICAP Ocean Tomo's Spring 2011 Live IP Auction in New York on March 31st.
The patents disclose the following:
- The system selects certain characters from at least one string of variable characters.
- Transforms those characters by at least one mathematical manipulation of those characters into a unique code which is printed on a document, typically as a symbol (barcode).
- There are many algorithms well known in cryptography for performing the code generation. The preferred embodiment uses a PKI crypto system with digital signatures.
- The characters and unique code may be represented as numbers, letters of any alphabet, ideographs or symbols (barcodes) as desired.
- The unique code is used as a security feature to validate that a physical document with the feature, or an electronic image of a document with the feature, is authentic.
The patents in this lot should be of interest to entities active in banking and related vendors and system integrators, Document Solution providers, AAMVA and related providers, USPS and related providers, and other organizations related to the security of important documents.
- Companies in the U.S. alone lose more than $600 billion annually as a result of bank check fraud, the vast majority of which consists of counterfeiting and document fraud (1,2,3).
- This patent has been cited by many significant industry players including Bank of America, JP Morgan Chase, IBM, and Diebold.
To learn more about the assets available for sale in this portfolio:
Contact Dean Becker of ICAP Ocean Tomo at Dean.Becker@us.icap.com
About ICAP Ocean Tomo LLC
ICAP Ocean Tomo is the intellectual property brokerage division of ICAP and the world's premier patent auction firm.
ICAP is the world's premier interdealer broker and provider of post trade services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, foreign exchange, emerging markets, equities and equity derivatives through voice and electronic networks. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information go to www.icap.com.
(2) Tseng Chun-chou, Computer & Information Security Services (TIER Industry Report, 2010)
SOURCE ICAP Ocean Tomo