"Anti-Theft E-Wallet"

Abstract

The Anti-Theft E-wallet is a secure electronic wallet designed to protect sensitive financial and personal information through a series of integrated security measures. This invention incorporates advanced features such as dual biometric authentication (fingerprint and facial recognition), GPS tracking, motion detection, and remote deactivation, all managed via a connected smartphone application. The GPS tracking system provides real-time location monitoring, while the geofencing feature alerts users when the wallet moves beyond a predefined boundary. Motion sensors detect suspicious or unauthorized movements, triggering alerts and automatically locking the wallet if tampering is detected. The remote deactivation feature allows users to lock the wallet from a distance, rendering it inoperable until reactivated by an authorized user. Furthermore, the E-wallet includes encryption and secure data storage to safeguard personal information. Bluetooth connectivity ensures real-time synchronization with the smartphone app for alerts and updates. By integrating these security measures, the Anti-Theft E-wallet offers an innovative solution that enhances user confidence, minimizes theft risks, and sets a new standard in digital wallet security.

Specification

Description:







Field of the Invention:
[001] The present invention relates to the field of electronic wallets, specifically focusing on advanced security features integrated into digital wallets to enhance the protection of personal and financial information. As digital transactions become increasingly common, the need for secure methods of managing and safeguarding sensitive data has grown. This invention leverages advancements in mobile technology, cybersecurity, and financial technology to provide a robust solution. Key features of the anti-theft E-wallet include biometric authentication, real-time GPS tracking, motion detection, and remote deactivation through a connected smartphone application. By combining these technologies, the invention aims to offer a secure, convenient, and reliable method for managing digital transactions while reducing the risk of theft, fraud, and unauthorized access to sensitive information. This integration of mobile technology and personal digital security sets a new standard in the protection of digital wallets.
Background of the invention and related prior art:
[002] The growth of digital transactions and mobile payments has made electronic wallets (E-wallets) a popular alternative to traditional wallets, offering users a convenient, cashless method for managing financial information and conducting transactions. However, the increasing reliance on digital wallets also presents security risks, as they can be vulnerable to theft, fraud, and unauthorized access. Conventional digital wallets often lack comprehensive security features to adequately protect against these risks, leaving sensitive financial and personal data exposed. Recognizing this need for heightened security, the present invention introduces an anti-theft E-wallet equipped with a range of advanced protective measures, such as biometric authentication, GPS tracking, motion detection, and remote deactivation. By addressing the vulnerabilities of current digital wallets, this invention aims to enhance user confidence in digital financial solutions, promoting wider adoption while ensuring the safety of personal data and financial transactions.
[003] A patent document US20190034917A1 discloses methods and systems for tracking an electronic wallet (e-wallet) using radio frequency identification (RFID). The RFID device is configured to provide RFID values to an RFID reader from a device hosting an e-wallet share, wherein the RFID device comprises a flash memory to store an attestation key. The trusted platform module (TPM) is configured to provide the attestation key for signing the RFID values, e-wallet transactions, or location communications, or any combinations thereof, and create a trusted execute environment (TEE) for operation of a wallet app.
[004] Another patent document US11386420B2 discloses methods and systems for a contextual authentication of an electronic wallet (e-wallet). An example apparatus includes a wallet application configured to confirm a context for use of an e-wallet, wherein the context is defined by a multifactor authentication (MFA) policy. A multifactor authentication application is configured to access a context sensor to provide input to the wallet application for the MFA policy.
[005] A document US9076142B2 discloses an electronic wallet that comprises a card duplicator, an electronic wallet or e-wallet, and an e-card. The card duplicator and the electronic wallet or e-wallet comprises a personalized authentication security card. Each electronic wallet or e-wallet has only one e-card. Single users are only required to have the electronic wallet or e-wallet. Business and family plans are required to have both the card duplicator and the electronic wallet or e-wallet. The card duplicator and the electronic wallet or e-wallet store credit card and personal data into the system. The e-card works as an interface device for the consumers. The e-card functions like normal credit card however the e-card is equipped with superior security system compared to a normal credit card.
[006] Another patent document US5748737A relates an electronic wallet which provides multiple data media interfaces. Standard interfaces will include a smart card reader/writer, a magnetic reader/writer, a radio frequency transceiver and a user interface. A generic card is insertable into an electronic wallet to provide magnetic or smart card data carrier means. The generic card assumes the identity of any stored digital card and is submitted to a card acceptor in that guise. A generic attachment card is also insertable into an electronic wallet to provide further media interfaces via various card attachments. In another embodiment, the electronic wallet and generic card are combined into a single wallet-card which also requires a wallet-card holder. Almost all the functions provided by a separate electronic wallet, generic card and generic attachment card are included in the electronic wallet-card and wallet-card holder. In operation, media independent digital cards will be stored within an electronic wallet and can receive or output data via any standard or optional media interface. A digital card will be selected and interfaced with a specified or default medium, with digital card content capable of being medium specific. Digital card and medium selection can be specified by either the wallet user or the digital card recipient.
[007] A patent document US5221838A discloses an electronic wallet that includes memory for storing at least a balance corresponding to an account in a financial institution, and a selective call receiver for receiving a wireless message transmitted from a remote transmitter, the wireless message including financial information relating to the balance for confirming a financial transaction with the financial institution. A controller, coupled to the memory and to the receiver, can update the balance in the memory in response to the wireless message.
communication system enters financial transactions into the communication system from one of a plurality of associated portable data devices, and updates the financial transactions from the communication system to the one and to at least a second of the plurality of associated portable data devices via wireless message communication from at least one remote transmitter.
[008] None of these above patents, however alone or in combination, disclose the present invention. The invention consists of certain novel features and a combination of parts hereinafter fully described, illustrated in the accompanying drawings, and particularly pointed out in the appended claims, it being understood that various changes in the details may be made without departing from the spirit, or sacrificing any of the advantages of the present invention.

Summary of the invention:
[009] The invention introduces an anti-theft electronic wallet (E-wallet) designed to provide robust security for digital transactions and protect sensitive financial and personal information. This E-wallet integrates multiple advanced security features, including biometric authentication (fingerprint and facial recognition), real-time GPS tracking, motion sensors, and remote deactivation, all managed through a connected smartphone application. These features work together to ensure that only authorized users can access the wallet and its contents, and in the event of theft or loss, the E-wallet can be located and remotely disabled to protect stored data. The E-wallet also utilizes advanced encryption and secure storage to safeguard personal information from unauthorized access. By combining these multi-layered security measures, the anti-theft E-wallet offers a comprehensive solution that significantly reduces the risk of theft and fraud, increasing user confidence and encouraging the adoption of secure digital payment methods.

Detailed description of the invention with accompanying drawings:
[010] For the purpose of facilitating an understanding of the invention, there is illustrated in the accompanying drawing a preferred embodiment thereof, from an inspection of which, when considered in connection with the following description, the invention, its preparation, and many of its advantages should be readily understood and appreciated.
[011] The principal object of the invention is to develop Anti-Theft E-Wallet. The Anti-Theft E-wallet is a secure digital wallet designed to protect users' financial and personal information through advanced, integrated security measures. This description details its core components and explains how each contributes to a layered defence mechanism that safeguards against theft, unauthorized access, and data breaches. Key components include:
1. Biometric Authentication
The E-wallet incorporates fingerprint and facial recognition for dual biometric authentication, ensuring that only authorized users can access it. The fingerprint scanner, positioned on the E-wallet's surface, captures and matches the user's fingerprint with stored biometric data. This system relies on complex algorithms for high-speed, high-accuracy recognition. Additionally, an integrated camera enables facial recognition, comparing a captured image with stored facial data through machine learning algorithms. This dual-biometric approach provides a reliable security layer, greatly minimizing the chance of unauthorized access.
2. GPS Tracking
A built-in GPS module enables real-time location monitoring of the E-wallet, which can be accessed via a connected smartphone app. Users can monitor the E-wallet's location continuously, making it easier to retrieve if lost or stolen. An added geofencing feature allows users to set boundaries, triggering an alert if the wallet moves beyond a defined area, thus enhancing security and providing timely notification of potential theft.
3. Motion Sensors
Motion sensors are embedded within the E-wallet to detect unusual movement patterns or sudden motion, indicating potential unauthorized handling. If suspicious activity is detected, such as an abrupt movement or an attempt to open or tamper with the wallet, the sensors can automatically trigger alerts and even lock the E-wallet as an immediate countermeasure. This tamper-detection system provides proactive security against physical theft attempts.
4. Remote Deactivation
Through a dedicated smartphone app, users can remotely deactivate the E-wallet in the event of loss or theft, rendering it unusable until unlocked by an authorized user. This feature allows users to safeguard their sensitive data by effectively locking out unauthorized individuals. Remote deactivation also ensures that all confidential information remains protected even if the wallet falls into the wrong hands, providing users peace of mind in emergency situations.
5. Encryption and Secure Storage
The E-wallet leverages advanced encryption to protect any stored financial and personal data, ensuring that information remains unreadable even if unauthorized access is attempted. Sensitive data is further safeguarded through secure storage options within the wallet, which incorporate hardware-based security modules. These measures offer a robust defense against data breaches, preserving the confidentiality of personal information.
6. Connectivity Interface
A Bluetooth-enabled connectivity interface facilitates seamless communication between the E-wallet and the smartphone app. This interface enables features such as synchronization of location data, security settings, and notifications, ensuring the E-wallet is always up-to-date with user-defined security parameters. In the event of suspicious behaviour or a security breach, the E-wallet can promptly alert the smartphone, allowing for immediate response.
[012] In summary, the Anti-Theft E-wallet combines these features to deliver an integrated, multi-layered security solution, setting a new standard for digital wallet protection. By providing users with reliable protection against theft, unauthorized access, and data compromise, this invention represents a breakthrough in the fields of digital finance and personal data security.
Figure 1. Flowchart for authentication process according to the embodiment of the present invention.
Figure 2. Flowchart with remote deactivation process according to the embodiment of the present invention.
Figure 3. Layout of Anti-Theft E-wallet according to the embodiment of the present invention.
[013] Without further elaboration, the foregoing will so fully illustrate my invention, that others may, by applying current of future knowledge, readily adapt the same for use under various conditions of service. It should also be realized by those skilled in the art that such equivalent constructions do not depart from the spirit and scope of the invention.

Advantages over the prior art
[014] Anti-Theft E-Wallet proposed by the present invention has the following advantages over the prior art:
1. Enhanced Security: The combination of biometric authentication, GPS tracking, motion sensors, and remote deactivation provides a multi-layered approach to security, significantly reducing the risk of theft and unauthorized access. Sensitive data remains secure even if the wallet is lost or stolen.
2. User Confidence: With robust security measures protecting their personal and financial information, users are more likely to feel confident using digital wallets, promoting broader adoption of cashless, secure payment methods.

3. Real-Time Monitoring and Alerts: GPS tracking and geofencing allow users to monitor the location of their E-wallet in real-time, while motion sensors detect suspicious movements. These features provide instant alerts, helping users respond swiftly in case of potential theft or unauthorized access.
4. Data Protection: Advanced encryption and secure storage ensure that sensitive data remains protected against breaches. Even if unauthorized access is attempted, encrypted information remains unreadable, providing an extra layer of security.
5. Convenience of Remote Deactivation: The ability to remotely deactivate the E-wallet through a smartphone app offers peace of mind, allowing users to quickly secure their data if their wallet is lost or stolen. This ensures that even in the worst-case scenario, personal information remains protected.
6. Seamless Connectivity: The Bluetooth-enabled interface allows for smooth communication with the user's smartphone, keeping settings, alerts, and location information in sync without manual updates. Users are always aware of their wallet's status, helping them maintain control over their digital assets.
7. Promotes Digital Financial Literacy and Adoption: By prioritizing security, the Anti-Theft E-wallet encourages more people to embrace digital financial tools, helping them transition from physical to digital payments with confidence and ease.
[015] In the preceding specification, the invention has been described with reference to specific exemplary embodiments thereof. It will be evident that various modifications and changes may be made thereunto without departing from the broader spirit and scope of the invention as set forth in the claims that follow. The specification and drawings are accordingly to be regarded in an illustrative rather than restrictive sense. Therefore, the aim in the appended claims is to cover all such changes and modifications as fall within the true spirit and scope of the invention. The matter set forth in the foregoing description and accompanying drawings is offered by way of illustration only and not as a limitation. The actual scope of the invention is intended to be defined in the following claims when viewed in their proper perspective based on the prior art.


, Claims:We claim:
1. Anti-Theft E-Wallet comprising:
- a biometric authentication system configured to enable access only upon successful verification of authorized biometric identifiers, wherein said biometric authentication system includes a fingerprint scanner and facial recognition capability; and
- a microprocessor configured to process biometric data to control access to the electronic wallet.
2. The electronic wallet of claim 1, further comprising a GPS tracking module configured to provide real-time location information of the electronic wallet, wherein the GPS data is accessible via a connected smartphone application.
3. The electronic wallet of claim 2, wherein the GPS tracking module includes a geofencing feature configured to allow a user to set a predefined boundary, and further configured to automatically trigger an alert on the smartphone application when the electronic wallet exits said boundary.
4. The electronic wallet of claim 1, further comprising a motion detection system, wherein the motion detection system includes at least one accelerometer and is configured to detect abrupt or unusual movements of the electronic wallet, and upon detection of such movements, triggers a security alert to the connected smartphone application.
5. The electronic wallet of claim 1, further comprising a remote deactivation system operable via a connected smartphone application, wherein the remote deactivation system is configured to enable the user to lock or disable the electronic wallet remotely, preventing access to stored data.
6. The electronic wallet of claim 1, further comprising an encryption system configured to secure personal and financial data stored within the electronic wallet, wherein said encryption system utilizes advanced cryptographic algorithms to ensure that data remains inaccessible without authorized access.
7. The electronic wallet of claim 1, further comprising a Bluetooth connectivity interface configured to facilitate secure communication with a connected smartphone application, wherein said Bluetooth interface allows for real-time synchronization of security settings, location data, and alert notifications.
8. The electronic wallet of claim 1, further comprising a tamper detection system, wherein the tamper detection system is configured to detect unauthorized physical manipulation or attempts to force access, and wherein upon detection, the system triggers an alert to the connected smartphone and/or automatically activates a self-locking mechanism.
9. The electronic wallet of claim 8, wherein the self-locking mechanism is configured to automatically secure the electronic wallet, locking access to stored data, upon detection of unauthorized movement or tampering, until reauthorization is provided by an authorized user.
10. The electronic wallet of claim 1, further comprising a power management system configured to optimize battery life by dynamically adjusting the power consumption of the GPS tracking module, biometric authentication system, motion detection system, and Bluetooth connectivity interface, thereby maintaining continuous security features while extending operational battery life.

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