Systems and methods for screening payment transactions
First Claim
1. A computer-implemented method comprising:
- receiving, by a payment processing network server, from a sending financial institution, information about a first set of attributes associated with a sending entity and a second set of attributes associated with a receiving entity for a money transfer transaction;
searching, by the payment processing network server, a database to determine whether one or more attributes from the first set of attributes or the second set of attributes correspond to information in the database;
determining, by the payment processing network server, a risk score for the money transfer transaction based on the searching;
communicating, by the payment processing network server, the risk score to the sending financial institution;
receiving, by the payment processing network server, from the sending financial institution, a payment authorization message associated with the money transfer transaction, the payment authorization message including the risk score;
communicating, by the payment processing network server, the payment authorization message including the risk score to a receiving financial institution; and
receiving a response message from the receiving financial institution indicating whether the money transfer was accepted or denied, wherein the receiving financial institution generates the response based at least in part on the risk score.
1 Assignment
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Accused Products
Abstract
Methods and systems for anti money laundering screening are provided. A risk score and a first validation code is determined based on information related to a funds transfer transaction. The first validation code is associated with the risk score. Thereafter, a second validation code is calculated and compared with the first validation code. The risk score and the validation score are included in a payment authorization message sent to a payment processing network. The payment processing network extracts the validation code and communicates the payment authorization message including the risk score to a receiving financial institution. The receiving financial entity accepts or denies the incoming funds transfer based on the risk score included in the payment authorization message.
28 Citations
17 Claims
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1. A computer-implemented method comprising:
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receiving, by a payment processing network server, from a sending financial institution, information about a first set of attributes associated with a sending entity and a second set of attributes associated with a receiving entity for a money transfer transaction; searching, by the payment processing network server, a database to determine whether one or more attributes from the first set of attributes or the second set of attributes correspond to information in the database; determining, by the payment processing network server, a risk score for the money transfer transaction based on the searching; communicating, by the payment processing network server, the risk score to the sending financial institution; receiving, by the payment processing network server, from the sending financial institution, a payment authorization message associated with the money transfer transaction, the payment authorization message including the risk score; communicating, by the payment processing network server, the payment authorization message including the risk score to a receiving financial institution; and receiving a response message from the receiving financial institution indicating whether the money transfer was accepted or denied, wherein the receiving financial institution generates the response based at least in part on the risk score. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A computer server comprising:
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a processor; a memory coupled with the processor, wherein the memory includes a database; an analysis module coupled with the processor; and a network interface module coupled with the memory and the processor, the network interface module configured to communicate with one or more external systems, wherein the processor is configured to; receive, from a sending financial institution, information about a set of attributes associated with a sending entity and information about a set of attributes associated with a receiving entity; query the database to determine whether one or more attributes from the set of attributes associated with the sending entity or the receiving entity correspond to information in the database; calculate a risk score for a money transfer transaction between the sending entity and the receiving entity based on the determination; determine a first validation code for the money transfer transaction; associate the first validation code with the risk score; communicate the risk score and the first validation code to the sending financial institution; receive, from the sending financial institution, a payment authorization message associated with the money transfer transaction, the payment authorization message including the risk score and the first validation code; communicate, using the network interface module, the payment authorization message including the risk score to a receiving financial institution; and receive a response message from the receiving financial institution indicating whether the money transfer was accepted or denied, wherein the receiving financial institution generates the response based at least in part on the risk score. - View Dependent Claims (11, 12, 13, 14, 15, 16)
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17. A computer-readable non-transitory storage medium storing instructions that when executed by a processor in a computer system cause the processor to perform a method comprising:
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receiving from a sending financial institution, information about a first set of attributes associated with a sending entity and a second set of attributes associated with a receiving entity for a money transfer transaction; searching a database to determine whether one or more attributes from the first set of attributes or the second set of attributes correspond to information in the database; determining a risk score for the money transfer transaction based on the searching; communicating the risk score to the sending financial institution; receiving from the sending financial institution, a payment authorization message associated with the money transfer transaction, the payment authorization message including the risk score; communicating the payment authorization message including the risk score to a receiving financial institution; and receiving a response message from the receiving financial institution indicating whether the money transfer was accepted or denied, wherein the receiving financial institution generates the response based at least in part on the risk score.
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Specification