DYE PACH: SYSTEMS AND METHODS FOR ACH FUND TRACKING

• US 20150127525A1
• Filed: 12/18/2013
• Published: 05/07/2015
• Est. Priority Date: 11/07/2013
• Status: Abandoned Application

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: eBay Inc.
• Inventors: Wardman, Brad, Beutler, Ryan C.
• Application Number:
  US14/132,535
• Publication Number:
  US 20150127525A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/3827 Use of message hashing
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 50/26 Government or public services business processes related to the transportation industry G06Q50/40

Abstract

When an Automated Clearing House (ACH) fund transaction is deemed to have suspicious nature, the ACH transfer file for the transaction may be marked with a unique key (dye pACH). The unique key may be used to track the transfer paths of funds through a plurality of financial institutions. Thus, the suspicious ACH fund may be tracked through the plurality of financial institutions. Law enforcement entities, such as police or Federal Bureau of Investigation (FBI) may use the unique key to track suspicious fund transfers through a plurality of financial institutions to detect money laundering or fraud activities or obtain high-level understanding of cybercrime organizations.

Claims

1. A device for facilitating fund transactions for a financial institution, the device comprising:

a hardware memory storing information about a user account at a financial institution, and

one or more processors in communication with the memory and adapted to;

receive a fund transaction via Automated Clearing House (ACH) designated for the user account;

determine whether the fund transaction is marked for tracking; and

process the fund transaction based on whether the fund transaction is marked for tracking.

2. The device of claim 1, wherein the fund transaction is sent electronically via an ACH file including an entry record instructing the fund transaction.

3. The device of claim 2, wherein the marking is a unique key listed in the entry record.

4. The device of claim 2, wherein the marked transaction is listed in a predetermined batch of entry records in the ACH file.

5. The device of claim 1, wherein the one or more processors are further adapted to send a tracking notification to a sending financial institution of the fund transaction when the fund transaction is marked for tracking.

6. The device of claim 1, wherein the one or more processors are further adapted to monitor other transactions of the user account when the fund transaction is marked for tracking.

7. A device for facilitating fund transactions for a financial institution, the device comprising:

a hardware memory storing information about a user account at a financial institution, and

one or more processors in communication with the memory and adapted to;

receive a request for a fund transaction using the user account;

determine whether the fund transaction is to be marked for tracking;

generate an Automated Clearing House (ACH) file including a transaction entry indicating the fund transaction using the user account;

marking the transaction entry in the ACH file for tracking when the fund transaction is to be marked; and

sending the ACH file to a receiving financial institution via National Automated Clearing House Association (NACHA).

8. The device of claim 7, wherein the marking is a unique key listed in the transaction entry of the ACH file.

9. The device of claim 7, wherein the marked transaction is listed in a predetermined batch in the ACH file.

10. The device of claim 7, wherein the one or more processors are further adapted to send a tracking notification to a financial institution from which the fund was previously received when the fund transaction is marked for tracking.

11. The device of claim 7, wherein the fund transaction is determined to be marked for tracking when the user account has a fund that is marked.

12. The device of claim 7, wherein the fund transaction is determined to be marked for tracking based on a timing of when a marked fund was received by the user account.

13. The device of claim 12, wherein the fund is marked based on a first-in-first-out tracking policy.

14. The device of claim 12, wherein the fund is marked based on a last-in-first-out tracking policy.

20. The method of claim 7, wherein the fund transaction is determined to be marked for tracking based on a timing of when a marked fund was received by the user account.

15. A method for facilitating tracking of fund transactions, the method comprising:

receiving, by a processor, a request for a fund transaction using a user account;

determining, by the processor, whether the fund transaction is to be marked for tracking;

generating, by the processor, an Automated Clearing House (ACH) file including a transaction entry indicating the fund transaction using the user account;

marking, by the processor, the transaction entry in the ACH file for tracking when the fund transaction is to be marked; and

sending, by the processor, the ACH file to a receiving financial institution via National Automated Clearing House Association (NACHA).

16. The method of claim 15, wherein the marking is a unique key listed in the transaction entry of the ACH file.

17. The method of claim 15, wherein the marked transaction is listed in a predetermined batch in the ACH file.

18. The method of claim 15 further comprising:

sending a tracking notification to a financial institution from which the fund was previously received when the fund transaction is marked for tracking.

19. The method of claim 15, wherein the fund transaction is determined to be marked for tracking when the user account has a fund that is marked.