Global compliance processing system for a money transfer system

• US 8,019,679 B2
• Filed: 10/18/2007
• Issued: 09/13/2011
• Est. Priority Date: 10/18/2007
• Status: Active Grant

• Current Assignee: MoneyGram International Incorporated
• Original Assignee: MoneyGram International Incorporated
• Inventors: Steiger, Billy Joe Jr., Bennett, Shannon Lee, Sletten, Dorilyn Lee, Chauvin, Diana, Gore, Peter
• Primary Examiner(s): Abdi; Kambiz
• Assistant Examiner(s): Fields; Benjamin S
• Application Number:
  US11/874,694
• Publication Number:
  US 20090106149A1
• Time in Patent Office: 1,426 Days
• Field of Search: 705/39
• US Class Current: 705/39
• 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 includes a rules database, a customer database, and a transaction processing system. The rules database includes information representative of transaction rules, at least some of which include an aggregation threshold. The customer database includes information representative of customers'"'"' transaction histories. The transaction processing system is connected to the rules database and customer database and includes point of entry ports, a customer identifier, a rules coordinator, an aggregation engine, and a transaction rules service. The point of entry ports receive transaction requests from points of entry and provide transaction responses to the points of entry. Based on information received in transaction requests, the customer identifier identifies customers and the rules coordinator determines applicable transaction rules. The aggregation engine determines aggregation values as a function of customers'"'"' transaction histories. The 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. The transaction rules service generates transaction responses based upon the information received in the transaction requests along with any information received in response to any requests for additional information and any aggregation values, and updates the customer database as a function of the transaction.

Claims

1. A money transfer system responsive to money transfer requests received through terminals at points of entry during transaction request sessions, for processing the money transfers transfer requests and providing enforcement of governmental money transfer compliance requirements by providing responses to the associated money transfer requests during the transaction request sessions and through the terminals at points of entry to stop the completion of a money transfer transaction that would not comply with the governmental money transfer compliance requirements, comprising:

a rules database including information representative of transaction rules defining governmental money transfer compliance requirements including transaction location-based rules and optionally one or more of transaction type-based rules, point of entry-based rules and customer-based rules, wherein at least some of the transaction rules include an aggregation threshold including one or more of transaction value thresholds, transaction volume thresholds, transaction value thresholds within a designated period of time and currency exchange thresholds;

a customer database including information representative of customers'"'"' transaction histories including transaction origin location information and transaction destination location information; and

a transaction processing system connected to the rules database and customer database, the transaction processing system comprising;

point of entry ports adapted to be coupled for communication with terminals at points of entry to receive money transfer transaction requests from the points of entry, to receive additional information in response to additional information request prompts from the points of entry, to provide additional information request prompts to the points of entry, and to provide transaction responses to the points of entry, wherein the transaction requests have transaction information including transaction origin location and transaction destination location;

a customer identifier to identify customers as a function of information received in transaction requests;

a rules coordinator to determine one or more applicable transaction rules, including location-based rules, that apply to a transaction as a function of the transaction information received in transaction requests;

an aggregation engine to calculate aggregation values as a function of customers'"'"' transaction histories and the applicable transaction information received in the transaction requests; and

a transaction rules service to;

determine for each money transfer transaction request whether information needed for applicable transaction rules applicable to the transaction request was received in the transaction requests request and available in the customer database;

provide an additional information request prompt to the point of entry port during the transaction request session if additional information is needed for applicable transaction rules applicable to the transaction request, wherein the additional information request prompt for the transaction request is provided before generating a transaction authorization or a transaction denial for the transaction request;

cause the aggregation engine to determine aggregation values associated with the transaction request during the transaction request session and before generating a transaction authorization or a transaction denial if the applicable transaction rules include an aggregation threshold;

generate a transaction response to the money transfer request during the transaction request session based on the customer'"'"'s transaction history, information received in the transaction request, information received in the transaction request, any additional information received in response to an additional information request prompt and any aggregation values, the transaction response including a transaction authorization allowing completion of the transaction or a transaction denial preventing completion of the transaction;

provide the transaction response to the point of entry port during the transaction request session in response to the money transfer transaction request; and

update the customer database as a function of the transaction; and

wherein the system stops the completion of a money transfer transaction during the transaction request session when a transaction denial is generated.

2. The money transfer system of claim 1, wherein the money transfer system further comprises an administrator port to communicate rule update information to the transaction processing system.

3. The money transfer system of claim 2, wherein the transaction processing system updates the rules database as a function of the rule update information.

4. The money transfer system of claim 1, and further comprising an external reporting system interfaced with the transaction processing system to communicate transaction information to external data processing systems.

5. The money transfer system of claim 1, wherein the transaction processing system further includes a report generator to generate reports based on information in the customer database.

6. The money transfer system of claim 5, wherein the report generator generates reports based on one or more of customer identity, transaction send location, transaction receive location, transaction value, and transaction frequency.

7. The money transfer system of claim 1, wherein the rules database includes information representative of transaction rules having one or more of aggregated send threshold amount limits over predetermined periods of time, aggregated receive threshold amount limits over predetermined periods of time, aggregated number of send transactions over predetermined periods of time, and aggregated number of receive transactions over predetermined periods of time.

8. A money transfer system comprising:

a rules database including information representative of transaction rules defining governmental money transfer compliance requirements, comprising;

transaction type-based rules;

point of entry-based rules;

customer-based rules; and

transaction location-based rules;

wherein at least some of the transaction rules include an aggregation threshold including one or more of transaction value thresholds, transaction volume thresholds, transaction value thresholds within a designated period of time and currency exchange thresholds;

a customer database including information representative of customers'"'"' transaction histories including transaction origin location information and transaction destination location information;

a transaction processing system connected to the rules database and customer database, comprising;

point of entry ports adapted to be coupled for communication with terminals at points of entry to receive transaction requests from the points of entry to receive transaction requests from points of entry, to receive additional information in response to additional information request prompts from the points of entry, to provide additional information request prompts to the points of entry and to provide transaction responses to the points of entry, wherein the transaction requests have transaction information including transaction origin location and transaction destination location;

a customer identifier to identify customers as a function of information received in transaction requests;

a rules coordinator to determine applicable transaction rules, including location-based rules, that apply to a transaction as a function of the transaction information received in transaction requests;

an aggregation engine to calculate aggregation values as a function of customers'"'"' transaction histories and the transaction information received in the transaction requests; and

a transaction rules service to;

determine during a transaction request session for each money transfer transaction request whether information needed for applicable transaction rules was received in the transaction request and available in the customer database;

generate during the transaction request session additional information request prompts requesting additional information if additional information is needed to meet the applicable transaction rules and providing the additional information request prompts to the point of entry ports during the transaction request session, wherein the additional information request prompts are generated and provided to the point of entry ports before generating a transaction authorization or a transaction denial for the associated transaction request;

cause the aggregation engine to determine aggregation values during the transaction request session and before generating a transaction authorization or a transaction denial if the applicable transaction rules include aggregation thresholds;

generate transaction authorizations during the transaction request session authorizing completion of transactions if the information in the customers'"'"' transaction histories and received in the transaction requests, including any information received in response to additional information request prompts and any aggregation values, meet the applicable transaction rules and providing the transaction authorizations to the point of entry ports during the transaction request session;

generate transaction denials during the transaction request session denying completion of transactions if the information in the customers'"'"' transaction histories and received in the transaction requests, including any information received in response to additional information request prompts and any aggregation values, do not meet the applicable transaction rules and providing the transaction responses denying the transactions denials to the point of entry ports during the transaction request session; and

update the customer database as a function of the transactions; and

wherein the system stops the completion of a money transfer transaction during the transaction request session when a transaction denial is generated; and

an administrator port to communicate rule update information, wherein the transaction processing system updates the rules database as a function of the rule update information.

9. The money transfer system of claim 8, and further comprising an external reporting system connected to the transaction processing system to communicate transaction information to external data processing systems.

10. The money transfer system of claim 8, wherein the transaction processing system further includes a report generator to generate reports based on information in the customer database.

11. The money transfer system of claim 10, wherein the report generator generates reports based on one or more of customer identity, transaction send location, transaction receive location, transaction value and transaction frequency.

12. The money transfer system of claim 8, wherein the rules database includes information representative of transaction rules having one or more of aggregated send threshold amount limits over predetermined periods of time, aggregated receive threshold amount limits over predetermined periods of time, aggregated number of send transactions over predetermined periods of time, and aggregated number of receive transactions over predetermined periods of time.

13. A method for operating a transaction processing system interfaced to a customer database, a rules database and points of entry to process money transfer requests subject to governmental money transfer compliance requirements, comprising:

receiving at the transaction processing system a transaction request from a point of entry, wherein the transaction requests have transaction information including transaction origin location and transaction destination location;

storing customer identification and transaction histories including transaction origin location information and transaction destination location information in a customer database;

processing the transaction request to identify a customer in the customer database based on the transaction request received and information stored in the customer database;

processing the transaction request, including accessing the rules database to determine during a transaction request session applicable transaction rules, wherein the transaction rules define 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, 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;

processing the transaction request to determine during the transaction request session whether information needed for transaction rules applicable to the transaction request was received in the transaction request and available in the customer database;

providing an additional information request prompt to the point of entry during the transaction request session if additional information is needed for transaction rules applicable to the transaction request, wherein the additional information request prompt is provided before generating a transaction authorization or a transaction denial for the transaction request;

receiving additional information in response to additional information request prompts;

processing the transaction request to determine during the transaction request session whether any aggregation thresholds are met based on transaction histories in the customer database and the transaction information received in the transaction requests;

processing the transaction request, including calculating aggregation values, to determine during the transaction request session a transaction response 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 response includes a transaction authorization authorizing completion of a transaction if the applicable transaction rules are met, and the transaction response includes a transaction denial denying completion of a transaction if the applicable transaction rules are not met; and

returning the transaction response from the transaction processing system to the point of entry during the transaction request session; and

stopping the completion of a money transfer transaction during the transaction request session when a transaction response in the form of a transaction denial is returned to the point of entry.

14. The method of claim 13, and further comprising generating a report based on one or more of customer identity, transaction send location, transaction receive location, transaction value, and transaction frequency.

15. The method of claim 13, wherein returning the transaction response comprises generating a response requesting additional information from the customer if the aggregation value is equal to or greater than the aggregation threshold.

16. The method of claim 13, wherein returning the transaction response comprises generating a response declining the transaction request if the aggregation value is equal to or greater than the aggregation threshold.

17. The method of claim 13, wherein returning the transaction response comprises generating a response accepting the transaction request if the aggregation value is less than the aggregation threshold.

18. A method for operating a money transfer system interfaced to a customer database, a rules database and points of entry to process a money transfer request subject to governmental money transfer compliance requirements, comprising:

receiving at the money transfer system transaction information from a transaction request at a point of entry, wherein the transaction information includes transaction origin location and transaction destination location;

processing the transaction request to determine compliance requirements for the transaction request, including accessing a rules database including information representative of transaction rules defining governmental money transfer compliance requirements including transaction location-based rules and optionally one or more of transaction type-based rules, point of entry-based rules and customer-based rules, and wherein at least some of the transaction rules include an aggregation threshold including one or more of transaction value thresholds, transaction volume thresholds and transaction value thresholds within a designated period of time;

processing the transaction request to determine compliance with the determined compliance requirements based on the information in the transaction request during a transaction request session, including accessing a customer database including information representative of customers'"'"' transaction histories including transaction origin location and transaction destination location and calculating aggregation values as a function of the customers'"'"' transaction histories and the transaction information received in the transaction requests;

providing additional information request prompts during the transaction request session before sending any notice to reject the transaction if additional information is needed to determine compliance; and

sending a notice to the point of entry during the transaction request session to reject the transaction request and stopping completion of the transaction if the transaction request does not comply with the compliance requirements.

19. The method of claim 18, wherein the step of sending a notice includes generating a pop up window on the point of entry alerting an agent to cancel the transaction.

20. The method of claim 18, wherein the step of sending a notice includes preventing the point of entry from accessing the money transfer system.