Method and apparatus for identifying an entity with which transactions are prohibited

• US 20040098339A1
• Filed: 11/15/2002
• Published: 05/20/2004
• Est. Priority Date: 11/15/2002
• Status: Abandoned Application

• Current Assignee: General Electric Capital Corporation (General Electric Company)
• Original Assignee: General Electric Capital Corporation (General Electric Company)
• Inventors: Carlie, Keyona T., Malek, Lori C., Jospeh, Leon H., Engelman, Steve T.
• Application Number:
  US10/295,643
• Publication Number:
  US 20040098339A1
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• 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
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising

Abstract

A system, method, apparatus, means, and computer program code for identifying an entity with which transactions are prohibited. According to embodiments of the present invention, a name of an entity being checked, which may be an individual, company, organization, etc., is compared to a list of entities with which transactions are prohibited. A prohibited transaction may include a financial transaction, a commercial transaction, or some other type of transaction. If a match is found between the name and a name on the list of prohibited entities, further checking is done to make sure that the match is not a false positive (i.e., that the two matched entities are not, in fact, different entities despite having the same name).

Claims

1. A method for facilitating a check of an entity to determine if the entity may participate in a transaction, comprising:

receiving data indicative of a primary name;

determining a match between said primary name and a secondary name, wherein said secondary name is included in a list of entities with which a type of transaction are prohibited;

making a determination regarding whether said match between said primary name and said secondary name indicates a false positive; and

providing data indicative of said determination.

2. The method of claim 1, wherein said receiving data indicative of a primary name includes receiving said data from a point-of-sale device.

3. The method of claim 2, wherein said primary name is associated with an application for credit.

4. The method of claim 3, wherein said providing data indicative of said determination includes providing data indicative of an approval of said application to said point-of-sale device.

5. The method of claim 1, wherein said receiving data indicative of a primary name includes allowing a user to provide said data indicative of a primary name via an interface.

6. The method of claim 1, wherein said determining a match between said primary name and a secondary name, wherein said secondary name is included in a list of prohibited entities includes comparing said primary name and said secondary name in accordance with at least one rule.

7. The method of claim 6, further comprising:

determining said at least one rule.

8. The method of claim 6, wherein said at least one rule includes establishing a match between said primary name and said secondary name if a first name associated with said primary name matches a first name associated with said secondary name and a last name associated with said first name matches a last name associated with said secondary name.

9. The method of claim 6, wherein said at least one rule includes establishing a match between said primary name and said secondary name if a middle name associated with said primary name matches a first name associated with said secondary name and a last name associated with said first name matches a last name associated with said secondary name.

10. The method of claim 1, wherein said making a determination regarding whether said match indicates a false positive between said primary name and said secondary name includes evaluating said match in accordance with at least one rule.

11. The method of claim 10, further comprising:

determining said at least one rule.

12. The method of claim 1, wherein said providing data indicative of said determination includes providing data indicative of said determination to a merchant device.

13. The method of claim 1, wherein said providing data indicative of said determination includes providing said data indicative of said determination via an interface.

14. The method of claim 1, further comprising:

receiving data indicative of a name on said list of entities with which said type of transactions are prohibited;

creating at least one variation of said name in accordance with at least one rule; and

updating a file to include said name and said at least one variation of said name.

15. The method of claim 14, wherein said making a determination regarding whether said match indicates a false positive between said primary name and said secondary name includes comparing said primary name to at least one name in said file.

16. The method of claim 14, wherein said list of entities is associated with a government agency.

17. The method of claim 16, wherein said government agency is OFAC.

18. The method of claim 1, further comprising:

establishing at least one rule for use during said making a determination.

19. The method of claim 1, further comprising:

establishing at least one rule for use in said determining a match between said primary name and said secondary name.

20. The method of claim 1, further comprising:

conducting a credit check on an application for credit associated with said primary name.

21. The method of claim 20, further comprising:

conducting a fraud check on said application.

22. The method of claim 1, wherein said primary name is associated with an application for credit.

23. The method of claim 1, wherein said primary name includes at least one of the following:

a name of an individual;

a name of an organization;

a name of a government agency;

a name of a country; and

a name of a company.

24. The method of claim 1, further comprising:

determining said list of entities.

25. The method of claim 24, wherein said determining said list of entities includes:

determining a list of entities with which said type of transactions are prohibited; and

determining a least one variation of at least one name on said list.

26. The method of claim 1, further comprising:

maintaining said list of entities with which said type of transaction is prohibited.

27. The method of claim 1, further comprising:

establishing said type of transaction.

28. The method of claim 1, further comprising:

providing an interface that allows a user to provide said data indicative of a primary name.

29. The method of claim 28, wherein said data indicative of said determination is provided via said interface.

30. A method for facilitating creation of a list of at least one entity, comprising:

maintaining a list of names of entities with which at least one type of transaction are prohibited;

receiving data indicative of a name of an entity with which said at least one type of transaction is prohibited;

creating at least one variation of said name in accordance with at least one rule; and

updating said list to include said name and said at least one variation of said name.

31. The method of claim 30, further comprising:

receiving data indicative of a primary name associated with an application for credit.

32. The method of claim 31, further comprising:

determining if a match exists between said primary name and a name in said list.

33. The method of claim 30, wherein said at least one variation of said name includes at least one alphabetic derivation of said name.

34. The method of claim 30, wherein said at least one variation of said name includes at least one translation of said name into a foreign language.

35. A method for facilitating a check of an entity to determine if the entity may participate in a transaction, comprising:

receiving data indicative of a primary name associated with an application for credit;

determining if a match exists between said primary name and a secondary name in accordance with at least one first rule, wherein said secondary name is included in a list of entities with which transactions are prohibited;

making a determination in accordance with at least one second rule regarding whether said match indicates a false positive between said primary name and said secondary name; and

providing data indicative of said determination.

36. The method of claim 35, further comprising:

determining at least one first rule; and

determining at least one second rule.

37. The method of claim 35, wherein said receiving data indicative of a primary name associated with an application for credit includes receiving said data from a point-of-sale device.

38. The method of claim 35, wherein said receiving data indicative of a primary name associated with an application for credit includes receiving said data from a merchant device.

39. The method of claim 35, further comprising:

creating said list.

40. The method of claim 35, wherein said providing said data indicative of said determination includes providing said data indicative of said determination via an interface.

41. A system for facilitating a check of an entity to determine if the entity may participate in a transaction, comprising:

a memory;

a communication port; and

a processor connected to said memory and said communication port, said processor being operative to;

receive data indicative of a primary name;

determine a match between said primary name and a secondary name, wherein said secondary name is included in a list of entities with which a type of transaction are prohibited;

make a determination regarding whether said match between said primary name and said secondary name indicates a false positive; and

provide data indicative of said determination.

42. A computer program product in a computer readable medium for facilitating a check of an entity to determine if the entity may participate in a transaction, comprising:

first instructions for obtaining data indicative of a primary name;

second instructions for identifying a match between said primary name and a secondary name, wherein said secondary name is included in a list of entities with which a type of transaction are prohibited;

third instructions for producing a determination regarding whether said match between said primary name and said secondary name indicates a false positive; and

fourth instructions for sending data indicative of said determination.

43. A system for facilitating creation of a list of at least one entity, comprising:

a memory;

a communication port; and

a processor connected to said memory and said communication port, said processor being operative to;

maintain a list of names of entities with which at least one type of transaction are prohibited;

receive data indicative of a name of an entity with which said at least one type of transaction is prohibited;

create at least one variation of said name in accordance with at least one rule; and

update said list to include said name and said at least one variation of said name.

44. A computer program product in a computer readable medium for facilitating creation of a list of at least one entity, comprising:

first instructions for storing a list of names of entities with which at least one type of transaction are prohibited;

second instructions for obtaining data indicative of a name of an entity with which said at least one type of transaction is prohibited;

third instructions for determining at least one variation of said name in accordance with at least one rule; and

fourth instructions for modifying said list to include said name and said at least one variation of said name.