System for authenticating and processing of checks and other bearer documents

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(12) United States Patent

Moore

(io) Patent No.: US 7,016,524 B2 (45) Date of Patent: Mar. 21,2006

(54) SYSTEM FOR AUTHENTICATING AND PROCESSING OF CHECKS AND OTHER BEARER DOCUMENTS

(76) Inventor: Lewis J. Moore, 3623 Latrobe Dr., Suite 120, Charlotte, NC (US) 28211

( * ) Notice: Subject to any disclaimer, the term of this patent is extended or adjusted under 35 U.S.C. 154(b) by 659 days.

(21) Appl. No.: 10/100,239

(22) Filed: Mar. 18, 2002

(65) Prior Publication Data

US 2003/0023557 Al Jan. 30, 2003

Related U.S. Application Data

(63) Continuation-in-part of application No. 09/413,461, filed on Oct. 6, 1999, now Pat. No. 6,456,729, which is a continuation-in-part of application No. 08/911, 415, filed on Aug. 14, 1997, now Pat. No. 6,246,778, which is a continuation-in-part of application No. 08/740,656, filed on Oct. 31, 1996, now Pat. No. 5,895,073, which is a continuation-in-part of application No. 08/633,538, filed on Apr. 17, 1996, now Pat. No. 6,005,960, which is a continuation-in-part of application No. 08/420,034, filed on Apr. 11, 1995, now Pat. No. 5,592,561, which is a continuation-inpart of application No. 08/227,662, filed on Apr. 14, 1994, now abandoned.

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* cited by examiner

Primary Examiner—Bhavesh M. Mehta

Assistant Examiner—ONeal R. Mistry

(1 A) Attorney, Agent, or Firm—Law Office of Tim Cook PC.

(57) ABSTRACT

A bearer document processing system includes preparation, verification, redeeming and depositing of the document. An encrypted symbol is imprinted on the document using ink that is not visible in invisible light. The symbol includes information used to authenticate the document and to identify the bearer of the document. The document is scanned at a transaction point. The symbol can be decoded at transaction points or at a remote central processing station. Accounts involved in transactions are credited and debited using information contained in the encoded symbol and other information provided by the bearer and the acceptor of the document. Transactions are performed in essentially real-time, and the bearer is provided with evidence of a successful transaction. Although applicable to any type of bearer document such as stock certificates, money orders, the system is particularly applicable to processing bank checks in real-time and with the possibility of fraudulent transactions being minimized.

46 Claims, 5 Drawing Sheets