GLOBAL COMPLIANCE PROCESSING SYSTEM FOR A MONEY TRANSFER SYSTEM

• US 20130325720A1
• Filed: 05/21/2013
• Published: 12/05/2013
• Est. Priority Date: 10/18/2007
• Status: Abandoned Application

• Current Assignee: MoneyGram International Incorporated
• Original Assignee: MoneyGram International Incorporated
• Inventors: Bennett, Shannon Lee, Chauvin, Diana, Steiger, Billy Joe Jr., Sletten, Dorilyn Lee, Gore, Peter
• Application Number:
  US13/899,047
• Publication Number:
  US 20130325720A1
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• 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 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

An improved money transfer system. A rules database includes transaction rules that include an aggregation threshold. A customer database includes customers'"'"' transaction histories. A processing system receives transaction requests from points of entry and provides transaction responses. Based on information received in transaction requests, the processing system identifies customers and determines applicable transaction rules. An aggregation engine determines aggregation values as a function of customers'"'"' transaction histories. A transaction rules service determines whether information received in the transaction requests meets the applicable transaction rules and causes the aggregation engine to determine aggregation values if the applicable transaction rules include aggregation thresholds. Transaction responses are generated by the processing system in response to any aggregation values and other information.

Claims

1-20. -20. (canceled)

21. A method for operating a processing system interfaced to a customer database and a rules database to process transaction requests representative of money transfers subject to governmental money transfer compliance requirements, and to identify fraudulent transaction requests and prevent completion of identified fraudulent requests in real time during a transaction processing session, wherein the customer database stores customer identification and transaction histories including transaction origin location information, transaction destination location information and information regarding known fraudsters, and the rules database stores transaction rules defining governmental money transfer compliance requirements including transaction location-based rules and optionally one or more of transaction type-base rules, point of entry-based rules and customer-based rules, and wherein the transaction rules have at least some aggregation thresholds including one or more of transaction value thresholds, transaction volume thresholds, transaction value thresholds within a designated period of time and currency exchange thresholds, comprising:

receiving transaction requests at the processing system through a communication port, wherein the transaction requests have transaction information including transaction origin location, transaction destination location and customer identification information;

processing the transaction requests by accessing the customer database to identify customers in the customer database based on the transaction requests received and information stored in the customer database, including linking data elements of more than one identified customer when the information supports a single customer record, and identifying transaction requests by known fraudsters;

processing the transaction requests by accessing the rules database as a function of the transaction information in the transaction requests to determine during transaction request processing sessions applicable transaction rules that apply to the transactions;

processing the transaction requests by determining during the transaction request processing sessions whether information needed for identified transaction rules was received in the transaction requests and available in the customer database;

providing additional information request prompts to the communication port during the transaction request procession sessions if additional information is needed for transaction rules applicable to the transaction requests, wherein the additional information request prompts are provided before generating a transaction authorization or a transaction denial for the associated transaction requests;

receiving additional information in response to additional information request prompts;

processing the transaction requests by determining during the transaction request processing sessions whether any aggregation thresholds are met based on transaction histories, including histories associated with the linked data elements, in the customer database and the transaction information received in the transaction requests;

processing the transaction requests to identify fraudulent requests by calculating aggregation values to determine during the transaction request processing sessions transaction responses based on the customers'"'"' transaction histories the information received in the transaction requests, any additional information received in response to additional information request prompts, the applicable transaction rules and the aggregation thresholds, wherein the transaction responses includes transaction authorizations if the applicable transaction rules are met, and the transaction responses include transaction denials if the applicable transaction rules are not met, if the transaction request is made by a known fraudster and if the transaction request is identified as fraudulent; and

returning the transaction responses from the processing system to the communication port during the transaction request processing sessions.