Method and system for duplicate commercial paper detection

An image capture system for detecting duplicate commercial paper transactions operable to:

• receive an authenticated commercial paper transaction with a check identification code, the check identification code comprising a plurality of fields and the commercial paper transaction authenticated using a first hash value based on at least a portion of the plurality of fields;
• update the check identification code because of processing of the received transaction;
• determine a second hash value based on at least a portion of the updated check identification code;
• communicate the second hash value to a repository storing a plurality of hash values, each hash value associated with one authenticated commercial paper transaction;
• if the repository does not include the second hash value as one of the plurality of hash values, authenticate the processed commercial paper transaction;
• and
• if the repository includes the second hash value as one of the plurality of hash values, identify the processed commercial paper transaction as a duplicate.

A method for detecting duplicate commercial paper transactions comprising:

• identifying a check identification code from a commercial paper transaction, the check identification code comprising a plurality of fields;
• determining a first hash value based on at least a portion of the plurality of fields;
• communicating the first hash value to a repository storing a plurality of hash values, each hash value associated with an authenticated commercial paper transaction;
• if the repository includes the first hash value as one of the plurality of hash values, identifying the commercial paper transaction as a duplicate;
• if the repository does not include the first hash value as one of the plurality of hash values:
• authenticating the commercial paper transaction;
• and
• communicating the authenticated transaction to a financial institution, the financial institution operable to update the check identification code based on transaction processing and to authenticate the processed transaction using a second hash value based on at least a portion of the updated check identification code.

A commercial paper processing system for detecting duplicate commercial paper transactions operable to:

• identify a check identification code from a commercial paper transaction, the check identification code comprising a plurality of fields;
• determine a first hash value based on at least a portion of the plurality of fields;
• communicate the first hash value to a repository storing a plurality of hash values, each hash value associated with an authenticated commercial paper transaction;
• if the repository includes the first hash value as one of the plurality of hash values, identify the commercial paper transaction as a duplicate;
• if the repository does not include the first hash value as one of the plurality of hash values:
• authenticate the commercial paper transaction;
• and
• communicate the authenticated transaction to a financial institution, the financial institution operable to update the check identification code based on transaction processing and to authenticate the processed transaction using a second hash value based on at least a portion of the updated check identification code.