The deployment of fingerprint sensors is increasingly becoming common and has now gained high user acceptance. However, fingerprint sensors are susceptible to spoofing using artificial materials or in worst case to the dismembered fingers. Fake/gummy fingerprints have shown to fool most commercial fingerprint systems. This paper proposes a new method of anti-spoofing using reliable liveness detection. The proposed method of liveness detection is based on the principle of pulse oximetry and involves the source of light originating from a probe at two wavelengths. The light is partly absorbed by haemoglobin, by amounts which differ depending on whether it is saturated with oxygen or deoxygenated haemoglobin. We then perform the computations for the absorption at two wavelengths to estimate the proportion of haemoglobin which is oxygenated. The computed percentage of oxygen in the blood, along with the heart pulse rate, determines the liveness of the enrolled biometric. Our experimental results demonstrate that the developed prototype can successfully thwart the spoof attacks (including those based on dismembered fingers).