Money transfers by residents of a controlled facility

• US 10,558,959 B2
• Filed: 10/13/2014
• Issued: 02/11/2020
• Est. Priority Date: 10/13/2014
• Status: Active Grant

• Current Assignee: MoneyGram International Incorporated
• Original Assignee: MoneyGram International Incorporated
• Inventors: Eiting, Brinkley Brown, Hutcheson, Katie
• Primary Examiner(s): Baird, Edward J
• Application Number:
  US14/512,830
• Publication Number:
  US 20160104134A1
• Time in Patent Office: 1,947 Days
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists

Abstract

In an aspect, a method includes receiving authorization information from a controlled facility, and receiving a request to initiate a financial transaction at an agent device. At least one party to the financial transaction may be a resident of the controlled facility. The method includes determining whether the resident is authorized to participate in the financial transaction based on the authorization information. Determining whether the resident is authorized to participate in the financial transaction may include determining, based on the authorization information, whether a party that is to receive funds from or provide funds to the resident in connection with the financial transaction corresponds to an entity that the resident of the controlled facility is authorized to receive funds from or provide funds to. The method includes initiating the financial transaction in response to a determination that the resident is authorized to participate in the financial transaction.

Claims

1. A method for providing regulatory compliant transaction services control with respect to residents of a plurality of controlled facilities, the method comprising:

receiving, by an electronic device of a money transfer network of a money transfer service provider, authorization information from an electronic device of a first controlled facility of the plurality of controlled facilities, wherein a first portion of the authorization information corresponds to a first resident of a plurality of residents of the first controlled facility and other portions of the authorization information correspond to other residents of the first controlled facility, wherein the first portion of the authorization information corresponding to the first resident identifies one or more first entities that are authorized to send funds to the first resident and identifies one or more second entities that are authorized to receive funds from the first resident;

receiving, by the electronic device of the money transfer network, a request to initiate a financial transaction between the first resident and a user of a money transfer service provided by the money transfer service provider;

determining, by the electronic device of the money transfer network, whether the first resident is authorized to participate in the financial transaction with the user based on the first portion of the authorization information corresponding to the first resident, wherein determining whether the first resident is authorized to participate in the financial transaction includes;

determining, if the financial transaction is a transfer of funds from the first resident to the user, whether the user is authorized to receive funds from the first resident based on the first portion of the authorization information; and

determining, if the financial transaction is a transfer of funds from the user to the first resident, whether the user is authorized to send funds to the first resident based on the first portion of the authorization information;

accessing, by the electronic device of the money transfer network, a transaction log to identify transaction information associated with completed financial transactions that the first resident participated in;

applying, by the electronic device, rules to the transaction information to determine whether the financial transaction complies with regulatory requirements, wherein applying the rules to the transaction information includes;

determining whether a number of completed financial transactions that the first resident participated in during a first period of time exceeds a threshold number of financial transactions; and

determining whether a value of the completed financial transactions that the first resident participated in during a second period of time exceeds a threshold value; and

determining, by the electronic device of the money transfer network, whether to authorize execution of the financial transaction between the first resident and the user based on the determining whether the first resident is authorized to participate in the financial transaction with the user and the applying the rules to the transaction information to determine whether the financial transaction complies with the regulatory requirements; and

in response to authorizing the financial transaction, initiating, by the electronic device of the money transfer network, the financial transaction between the first resident and the user.

2. The method of claim 1, wherein the first controlled facility is a facility selected from the list consisting of:

a prison facility, a nursing home facility, a half-way house facility, and an assisted living facility.

3. The method of claim 1, wherein the electronic device is a kiosk controlled by the money transfer service provider that is located at the first controlled facility, and wherein a second portion of the authorization information corresponding to a second resident of the first controlled facility identifies entities that the second resident is authorized to transfer funds to and identifies entities that the second resident is authorized to receive funds from.

4. The method of claim 1, further comprising:

sending information associated with the request to an agent device, wherein the agent device is operated by the money transfer service provider, and wherein at least a portion of the financial transaction is performed at an agent location corresponding to the agent device.

5. The method of claim 4, further comprising:

recording the financial transaction as an entry in the transaction log.

6. The method of claim 1, wherein the transaction log comprises records that include information associated with a transaction value, an identity of a sending party, an identity of a receiving party, and a transaction completion date for each financial transaction completed via the money transfer network.

7. The method of claim 1, further comprising:

initiating transmission of an audit request to an agent device and receiving a report from the agent device in response to transmission of the audit request.

8. The method of claim 7, wherein the audit request identifies a period of time, and wherein the report includes information associated with financial transactions that were completed via the money transfer network during the period of time.

9. The method of claim 7, wherein the financial transactions identified in the report include at least one of:

purchases, telephone call logs, bills paid, money transfers to and from an account of the first resident of the controlled facility, pending financial transactions, or a combination thereof.

10. The method of claim 1, further comprising:

receiving, by the electronic device, a second request to initiate a second financial transaction between a second user and the first resident;

determining, by the electronic device, whether the first resident is authorized to participate in the second financial transaction based on the first portion of the authorization information, wherein determining whether the first resident is authorized to participate in the second financial transaction includes;

determining, based on the first portion of the authorization information, whether the second user is authorized to transfer funds to or receive funds from the first resident;

denying the second request in response to a determination that the second user is not authorized to transfer funds to or receive funds from the first resident; and

;

providing information indicating a reason for denying the second request to the first resident.

11. A non-transitory computer-readable storage medium storing instructions that, when executed by one or more processors, cause the one or more processors to perform operations for providing regulatory compliant transaction services control with respect to residents of a plurality of controlled facilities, the operations comprising:

receiving authorization information at an electronic device of a money transfer network of a money transfer service provider from an electronic device of a first controlled facility of the plurality of controlled facilities, wherein a first portion of the authorization information corresponds to a first resident of a plurality of residents of the first controlled facility and other portions of the authorization information correspond to other residents of the first controlled facility, wherein the first portion of the authorization information corresponding to the first resident identifies one or more first entities that are authorized to send funds to the first resident and identifies one or more second entities that are authorized to receive funds from the first resident;

receiving a request to initiate a financial transaction between the first resident and a user of a money transfer service provided by the money transfer service provider;

determining whether the first resident is authorized to participate in the financial transaction with the user based on the first portion of the authorization information corresponding to the first resident, wherein determining whether the first resident is authorized to participate in the financial transaction includes;

determining, if the financial transaction is a transfer of funds from the first resident to the user, whether the user is authorized to receive funds from the first resident based on the first portion of the authorization information; and

determining, if the financial transaction is a transfer of funds from the user to the first resident, whether the user is authorized to send funds to the first resident based on the first portion of the authorization information;

accessing a transaction log to identify transaction information associated with completed financial transactions that the first resident participated in;

applying rules to the transaction information to determine whether the financial transaction complies with regulatory requirements, wherein applying the rules to the transaction information includes;

determining whether a number of completed financial transactions that the first resident participated in during a first period of time exceeds a threshold number of financial transactions; and

determining whether a value of the completed financial transactions that the first resident participated in during a second period of time exceeds a threshold value; and

determining whether to authorize execution of the financial transaction between the first resident and the user based on the determining whether the first resident is authorized to participate in the financial transaction with the user and the applying the rules to the transaction information to determine whether the financial transaction complies with the regulatory requirements; and

in response to authorizing the financial transaction, initiating the financial transaction between the first resident and the user.

12. The non-transitory computer-readable storage medium of claim 11, wherein the first controlled facility is a facility selected from the list consisting of:

a prison facility, a nursing home facility, a half-way house facility, and an assisted living facility.

13. The non-transitory computer-readable storage medium of claim 11, wherein the electronic device is a kiosk controlled by the money transfer service provider that is located at the first controlled facility, and wherein a second portion of the authorization information corresponding to a second resident of the first controlled facility identifies entities that the second resident is authorized to transfer funds to and identifies entities that the second resident is authorized to receive funds from.

14. The non-transitory computer-readable storage medium of claim 11, the operations further comprising:

sending information associated with the request to an agent device, wherein the agent device is operated by the money transfer service provider, and wherein at least a portion of the financial transaction is performed at an agent location corresponding to the agent device.

15. The non-transitory computer-readable storage medium of claim 14, the operations further comprising:

recording the financial transaction as an entry in the transaction log.

16. The non-transitory computer-readable storage medium of claim 11, wherein the transaction log comprises records that include information associated with a transaction value, an identity of a sending party, an identity of a receiving party, and a transaction completion date for each financial transaction completed via the money transfer network.

17. The non-transitory computer-readable storage medium of claim 11, the operations further comprising:

initiating transmission of an audit request to an agent device and receiving a report from the agent device in response to transmission of the audit request.

18. The non-transitory computer-readable storage medium of claim 17, wherein the audit request identifies a period of time, and wherein the report includes information associated with financial transactions that were completed via the money transfer network during the period of time.

19. The non-transitory computer-readable storage medium of claim 17, wherein the financial transactions identified in the report include at least one of:

purchases, telephone call logs, bills paid, money transfers to and from an account of the first resident of the controlled facility, pending financial transactions, or a combination thereof.

20. The non-transitory computer-readable storage medium of claim 11, further comprising:

receiving, by the electronic device, a second request to initiate a second financial transaction between a second user and the first resident;

determining, by the electronic device, whether the first resident is authorized to participate in the second financial transaction based on the first portion of the authorization information, wherein determining whether the first resident is authorized to participate in the second financial transaction includes;

determining, based on the first portion of the authorization information, whether the second user is authorized to transfer funds to or receive funds from the first resident;

denying the second request in response to a determination that the second user is not authorized to transfer funds to or receive funds from the first resident; and

providing information indicating a reason for denying the second request to the first resident.

21. A system for providing regulatory compliant transaction services control with respect to residents of a plurality of controlled facilities, the system comprising:

an electronic device of a money transfer network of a money transfer service provider a memory storing authorization information and a transaction log; and

one or more processors communicatively coupled to the memory, the one or more processors configured to;

receive the authorization information from an electronic device of a first controlled facility of the plurality of controlled facilities, wherein a first portion of the authorization information corresponds to a first resident of a plurality of residents of the first controlled facility and other portions of the authorization information correspond to other residents of the first controlled facility, wherein the first portion of the authorization information corresponding to the first resident identifies one or more first entities that are authorized to send funds to the first resident and identifies one or more second entities that are authorized to receive funds from the first resident;

receive a request to initiate a financial transaction between the first resident and a user of a money transfer service provided by the money transfer service provider;

determine whether the first resident is authorized to participate in the financial transaction with the user based on the first portion of the authorization information corresponding to the first resident, wherein determining whether the first resident is authorized to participate in the financial transaction includes;

determine, if the financial transaction is a transfer of funds from the first resident to the user, whether the user is authorized to receive funds from the first resident based on the first portion of the authorization information; and

determine, if the financial transaction is a transfer of funds from the user to the first resident, whether the user is authorized to send funds to the first resident based on the first portion of the authorization information;

access the transaction log to identify transaction information associated with completed financial transactions that the first resident participated in;

apply rules to the transaction information to determine whether the financial transaction complies with regulatory requirements, wherein applying the rules to the transaction information includes;

determine whether a number of completed financial transactions that the first resident participated in during a first period of time exceeds a threshold number of financial transactions; and

determine whether a value of the completed financial transactions that the first resident participated in during a second period of time exceeds a threshold value; and

determine whether to authorize execution of the financial transaction between the first resident and the user based on the determining whether the first resident is authorized to participate in the financial transaction with the user and the applying the rules to the transaction information to determine whether the financial transaction complies with the regulatory requirements; and

initiate the financial transaction between the first resident and the user in response to authorizing the financial transaction.