Methods of monitoring behavior/activity of an individual associated with an organization

• US 8,666,884 B2
• Filed: 09/05/2012
• Issued: 03/04/2014
• Est. Priority Date: 06/14/2006
• Status: Expired due to Fees

• Current Assignee: Edith L. Curry, Frank Hailstones, Laurie S. Holtz, Michael A. Dement
• Original Assignee: Edith L. Curry, Frank Hailstones, Laurie S. Holtz, Michael A. Dement
• Inventors: Curry, Edith L., Hailstones, Frank, Dement, Michael A., Holtz, Laurie S.
• Primary Examiner(s): Shaikh, Mohammad Z
• Application Number:
  US13/603,999
• Publication Number:
  US 20120330821A1
• Time in Patent Office: 545 Days
• Field of Search: 705 35- 45, 705/1
• US Class Current: 705/38
• CPC Class Codes: G06Q 10/0635 Risk analysis of enterprise or organisation activities
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A cooperative arrangement and method to monitor behaviors and other activities by an individual in an organization. Personal financial information associated with an individual who is associated with, or to be associated with, the organization are obtained. Information is extracted from the personal financial information and input into a risk assessment algorithm. The risk assessment algorithm operates on the input information and generates risk assessment data. The risk assessment data is evaluated to make a determination of certification with respect to the individual. A decision to certify means that the risk associated with the individual, with respect to committing fraud or some other improper act with respect to the organization, is acceptable. Risk assessment data on a plurality of key individuals within the organization may be generated and evaluated to make a determination of certification with respect to the organization as a whole.

Claims

1. A method to monitor the behavior/activity of individuals associated with an organization, said method comprising:

(a) obtaining a personal financial disclosure statement of each of a plurality of individual persons associated with an organization;

(b) obtaining personal financial records and other relevant personal financial data of each of said individual persons;

(c) inputting first information from each of said personal financial disclosure statements, each of said personal financial records, and each of said other relevant personal financial data into a risk assessment algorithm implemented on a processor-based platform; and

(d) said risk assessment algorithm operating on said first input information by executing on said processor-based platform and thereby generating a plurality of first risk assessment data, wherein the first risk assessment data includes data corresponding to one or more of detected discrepancies, evidence of irresponsible behavior, evidence of suspicious behavior, and evidence of instability; and

(e) making a first determination of certification with respect to said organization by generating a composite risk factor based on said plurality of first risk assessment data, where said composite risk factor is a single numeric value or score, and comparing said composite risk factor to a threshold value.

2. The method of claim 1 further comprising investigating reasons for not certifying said organization and thereby generating investigative results when said first determination of certification is not to certify.

3. The method of claim 2 further comprising inputting second information from said investigative results, said personal financial disclosure statements, said personal financial records, and said other relevant personal financial data into said risk assessment algorithm.

4. The method of claim 1 wherein said personal financial records include one or more of tax return records, treasury records, real estate records, banking records, a credit report, and a FICO score for each of said individual persons.

5. The method of claim 1 wherein said personal financial disclosure statements include information related to financial assets, liabilities, and income of each of said individual persons.

6. The method of claim 1 wherein the step of said risk assessment algorithm operating on said first input information and thereby generating first risk assessment data comprises said risk assessment algorithm comparing information from said financial disclosure statements with information from said corresponding personal financial records and said other relevant personal financial data and thereby detecting any discrepancies.

7. The method of claim 1 wherein the step of said risk assessment algorithm operating on said first input information and thereby generating first risk assessment data comprises said risk assessment algorithm detecting evidence of irresponsible behavior on the part of any of said individual persons.

8. The method of claim 1 wherein the step of said risk assessment algorithm operating on said first input information and thereby generating first risk assessment data comprises said risk assessment algorithm generating an assessment of financial stability of each of said individual persons.

9. The method of claim 1 wherein the step of obtaining personal financial records and other relevant personal financial data of any of said individual persons is only performed when said any individual persons give permission to perform said step.

10. A method to the monitor behavior/activity of and individual associated with an organization, said method comprising:

(a) obtaining a personal financial disclosure statement of an individual person associated with, or potentially to be associated with, said organization;

(b) obtaining personal financial records and other relevant personal financial data of said individual person;

(c) inputting first information from said personal financial disclosure statement, said personal financial records, and said other relevant personal financial data into a risk assessment algorithm implemented on a processor-based platform;

(d) said risk assessment algorithm operating on said first input information by executing on said processor-based platform and thereby generating a plurality of first risk assessment data, wherein the first risk assessment data includes data corresponding to one or more of detected discrepancies, evidence of irresponsible behavior, evidence of suspicious behavior, and evidence of financial instability;

(e) generating a composite risk factor based on said plurality of first risk assessment data, where said composite risk factor is a single numeric value or score; and

(f) making a first determination of certification with respect to said individual person based on said composite risk factor.