An approach is provided for providing security mechanism for proximity-based interactions among devices. At least one first device (e.g., a memory tag) may determine a request for interaction between the at least one first device and at least one second device (e.g., a mobile phone), wherein at least the at least one first device is associated with at least one first antenna and at least one second antenna. The at least one first device may determine a first signal received by the at least one first antenna and a second signal received by the at least one second antenna. Further, the at least one first device may determine one or more differences in one or more characteristics of the first signal and the second signal. Furthermore, the at least one first device may process and/or facilitate a processing of the one or more differences to determine whether to allow the interaction.