Blockchain-based solution for detecting and preventing fake check scams
In IEEE Transactions on Engineering Management
Abstract 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.