APPLICATION OF IICW (INTIMATION OF INTENTION OF CASH WITHDRAWAL) AND 2DA (2 DEVICE APPROACH) TO STOP FRAUDS USING ATM BANKING CARDS.

摘要

IICW: IICW is Intimation of Intention of Cash Withdrawal. IICW is a brief communication pattern, to be followed, prior to every cash withdrawal, by the bank and its customer to create 10 minutes onetime online access to his account. Intention of cash withdrawal and actual cash withdrawal are separate actions and you may find former without later but you never find the later without former. So when cash is withdrawn, the intention is considered as a part of it. We are giving it a separate identity and using it as an entry to ATM banking. Hereon, bank customer will intimate to the bank of his intention of cash withdrawal just before (in a span of 10 minutes) his actual cash withdrawal. 2DA; 2DA is 2 Device Approach. Bank customer approaches the bank by his two devices: mobile phone and his ATM card. By a missed call or a SMS from bank customers registered mobile, bank customer bestows his personal endorsement to the ensuing cash withdrawal. Pattern 1. Whenever a bank customer intends to withdraw money from the ATM machine, he will open the mobile phone book and intimate to the bank of his intention by a missed call on his registered mobile. The bank will receive his missed call. Customer will hear the ringing bell and then only will cut the call. Ringing of the bell at the bank end is a confirmation of the acknowledgment of his intention of cash withdrawal. Bank is now ready for the ensuing money transaction from any ATM across the country/world. Pattern 2. whenever he intends to withdraw money from the ATM machine, he will open his SMS account and send one of the latest received SMSs back to the bank. As soon as his SMS reaches the bank, the customer will receive its delivery report on his mobile. Hereon within ten minutes he is expected to insert his card in the ATM machine slot.