×

Consumer due diligence for money transfer systems and methods

  • US 8,473,352 B2
  • Filed: 03/24/2009
  • Issued: 06/25/2013
  • Est. Priority Date: 03/24/2009
  • Status: Active Grant
First Claim
Patent Images

1. A method of transferring money from a sender to a recipient using a third party money transfer service, the method comprising:

  • providing a point of sale device at a money transfer origination location in communication with a host computer system of a money transfer network;

    entering into the point of sale device transaction details for a requested money transfer by the sender, wherein the details include at least a sender name, a recipient name, and a transfer amount;

    determining with the point of sale device whether the requested transaction is an allowable transaction, based on specific details of the requested transaction or based on an aggregation of the requested transaction by determining whether the aggregation of the requested transaction exceeds a predetermined aggregation threshold and based on the sender'"'"'s transaction history by determining whether a transaction pattern within the sender'"'"'s transaction history comprises unallowable transaction patterns;

    if the transaction is determined not to be an allowable transaction, aborting the transaction;

    if the transaction is determined to be an allowable transaction, attempting to identify the sender as an existing customer of the third party money transfer service using the transaction details, wherein existing customers have a unique customer identifier and transaction history;

    if the attempt to identify the sender as an existing customer of the third party money transfer service using the transaction details is unsuccessful;

    displaying a prompt on the point of sale device that additional information is required;

    entering the additional information into the point of sale device; and

    attempting to identify the sender as an existing customer of the third party money transfer service using the transaction details and the additional information;

    if the sender cannot be identified as an existing customer of the third party money transfer service using the transaction details or the transaction details and the additional information;

    assigning a unique customer identifier to the sender;

    allowing the transaction to proceed; and

    storing at least a portion of the transaction details and at least a portion of the additional information as transaction history in a record with the sender'"'"'s unique customer identifier;

    if the sender can be identified as an existing customer of the third party money transfer service using the transaction details or the transaction details and the additional information;

    recalling the sender'"'"'s transaction history; and

    using the sender'"'"'s transaction history and the transaction details of the requested transaction or the aggregation of the requested transaction to determine whether to allow the requested transaction to proceed;

    if the requested transaction is allowed to proceed;

    creating a money transfer record for the requested transaction;

    associating a money transfer control number to the money transfer record; and

    using the transaction details to determine whether to monitor the requested transaction.

View all claims
  • 1 Assignment
Timeline View
Assignment View
    ×
    ×