Abstract: A system for the prevention of fraud in various financial transactions including a central processing unit (CPU) associated with a financial institution and in communication with a customer database of the institution, the CPU including elements for receiving a telecommunication from a customer communication device, the telecommunication indicating the requirement for a transaction; the database and/or CPU identifying the customer telephone number and matching it with the customer details in the database; the establishment of a match in the matching process triggering activation of the account to permit a transaction of a specified monetary value.