IDENTITY VERIFICATION SECURE TRANSACTION SYSTEMS AND METHOD OF VERYFYING AN IDENTITY FOR CONDUCTING SECURE TRANSACTIONS

摘要

An identity verification secure transaction system and method of verifying an identity for conducting secure transactions, A method and system for secure identification of a person in an electronic communications environment, wherein a host computer is adapted to be able to communicate with a specific electronic communication device operated by the person. The person is issued with a mask code, known only to the person and stored in the host computer, but never transmitted electronically therebetween. When the person is required to identify him or herself to the host computer, the host computer transmits a pseudo-random string to the specific electronic communications device, whereupon the mask code must be applied to the pseudo-random string according to predetermined rules so as to generate a volatile identification code which is then transmitted back to the host computer. Positive identification is achieved when the volatile identification code matches a volatile identification code generated within the host computer by applying the mask code stored therein to the pseudo-random string. In this way, a person's mask code is never transmitted electronically and is therefore relatively safe from interception, and the volatile identification code will be different for each different pseudo-random string, thus making a fraudulently intercepted communication meaningless.