Computerized money transfer system and method

• US 9,076,134 B2
• Filed: 10/15/2001
• Issued: 07/07/2015
• Est. Priority Date: 10/15/2001
• Status: Active Grant

• Current Assignee: Chequepoint Franchise Corp.
• Original Assignee: Chequepoint Franchise Corp.
• Inventors: Grovit, Felix, Vichhi, Neel, Grovit, Stefan Carim Ismail
• Primary Examiner(s): Robinson, Kito R
• Application Number:
  US09/978,849
• Publication Number:
  US 20030074310A1
• Time in Patent Office: 5,013 Days
• Field of Search: 705/39, 705/40, 705/76, 705/379, 705/35
• US Class Current: 1/1
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/04 Payment circuits
• 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 20/18 involving self-service terminals [SST], vending machines, kiosks or multimedia terminals
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A computerized money transfer system implements a money transfer service for trasferring money from a sending entity to at least one receiving entity. A plurality of agent terminals operable by agents of the money transfer service are interconnected by a communications network. A money transfer control system is connected to the communications network for controlling the implementation of the money transfer service. The money transfer control system includes an agent account data store storing account data for each agent and a transaction data store storing transaction data for transactions by agents implementing money transfers from a sending entity to at least one receiving entity. When data is input to an agent terminal by a sending agent instigating a money transfer requested by a sending entity to at least one receiving entity, the data is transmitted to the money transfer control system. The input data identifies the sending and receiving entities, sending agent and at least one receiving agent that is to remit the money transferred thereto to the or each receiving entity. The money transfer control system records the input data in the transaction data store as a transaction from a sending agent to at least one receiving agent for a sending entity and at least one receiving entity and updates the agent account data in the agent account data store for the sending and receiving agents.

Claims

1. A computerized money transfer system implementing a money transfer service for transferring money from a sending entity to at least one receiving entity comprising:

a a plurality of agent terminals that is operated by agents of the money transfer service, said agent terminal being interconnected by a communications network;

a money transfer control system connected by the communications network to the plurality of agent terminals, wherein said money transfer control system solely controls and implements a money transfer transaction in the money transfer service, the money transfer control system including an agent account data store storing account data for each agent, and a transaction data store storing transaction data for transactions by agents implementing money transfers from a sending entity to at least one receiving entity, wherein the money transfer control system is positioned in a first currency location with first local money transfer regulations;

wherein at least one of said agent terminals, located in a second currency location with second local money transfer regulations and part of a first organization having a sending agent and a sending entity, (i) is responsive to data input by the sending agent instigating a money transfer requested by the sending entity to at least one receiving entity that is part of a second organization different from the first organization, and (ii) transmits the input data to the money transfer control system;

wherein the input data identifies the sending and receiving entity or entities, the sending agent, and at least one receiving agent, who is part of the second organization, and transmits the money transferred thereto to the each receiving entity;

wherein the money transfer control system applies first local money transfer regulations and second local money transfer regulations to the money transfer request;

wherein the money transfer control system records the input data in said transaction data store as a transaction from a sending agent to at least one receiving agent for a sending entity and at least one receiving entity, with the sending agent terminal and the receiving agent terminal being in separate currency locations, and updates the agent account data in the agent account data store for the sending and receiving agents;

wherein the first organization and the second organization are unrelated, and a money transfer transaction occurs through and is solely controlled by the money transfer control system;

wherein the money transfer control system implements and carries out the money transfer transaction between the sending agent and the at least one receiving agent such that the sending agent communicates with the money transfer control system, and the at least one receiving agent communicates with the money transfer control system; and

wherein neither the sending entity nor the sending agent is required to communicate directly with or send information directly to either one of the at least one receiving agent and the at least one receiving entity, in order to verify or complete the money transfer transaction.

2. A a computerized money transfer system according to claim 1, wherein the money transfer requested is from a sending currency to a receiving currency, said money transfer control system includes an exchange rate data store storing exchange rate data, said agents account data store stores account data for each agent in a local currency for the agent, and said money transfer control system is adapted to use the exchange rate data in said exchange rate data store to convert currency values for transactions to determine an amount in the receiving currency based on an amount in the sending currency, to store the amounts as part of the transaction stored in said transaction data store, and to update the agent account data in the agent account data store for the agents in the local currencies based on the exchange rate data.

3. The computerized money transfer system according to claim 1, wherein said money transfer control system is adapted to send a request for further information from the sending entity at the agent terminal operated by the sending agent if the transaction fits a predetermined criteria, receive the further information from the agent terminal, and to associate the further information with the transaction in the transaction data store.

4. The computerized money transfer system according to claim 1, wherein said receiving agent is in a third currency location and wherein said money transfer control system is adapted to monitor the transaction for compliance with regulations of the third currency location.

5. The computerized money transfer system according to claim 1, wherein said money transfer control system includes a money laundering regulation interface if module and a money laundering regulation record.

6. The computerized money transfer system according to claim 1, wherein said plurality of agent terminals can each act to send money and receive money.

7. The computerized money transfer system according to claim 1, wherein a group of said plurality of agent terminals in a single organization can send and receive money to each other without accessing the money transfer control system.

8. The computerized money transfer system according to claim 1, wherein the money transfer control system applies money laundering regulations for transactions between terminals in different countries.

9. The computerized money transfer system according to claim 1, wherein said money transfer control system is adapted to provide accounting for both the first organization and the second organization.

10. The computerized money transfer system according to claim 1, wherein said money transfer control system is the only link between the sending entity and the receiving entity.

11. A a computerized money transfer system according to claim 3, wherein said money transfer control system includes a first transaction controller to control the transaction based on a comparison of a returned further information and predetermined criteria.

12. A a computerized money transfer system according to claim 11, wherein said first transaction control system is adapted to determine if the received further information matches a predetermined criteria, and if so, to block the money transfer and to transmit a message to the agent terminal operated by the sending agent to inform the sending agent that the money transfer has not occurred.

13. A computerized money transfer system according to claim 1, wherein said money transfer control system is adapted to receive input data from an agent terminal identifying a sending entity of a first discrete organization and a plurality of receiving entities of at least one second discrete organization, and to store transaction data in the transaction data store as a single sending transaction indexed for the sending entity and as a plurality of receiving transactions indexed for each receiving entity.

14. A computerized money transfer system according to claim 1, wherein said money transfer control system is adapted to receive input data from an agent terminal identifying a sending entity, a sending agent, a plurality of receiving entities and a plurality of receiving agents, and to store transaction data in the transaction data store as a single sending transaction indexed for the sending agent and as a plurality of receiving transactions indexed for each receiving agent.

15. A computerized money transfer system according to claim 1, wherein said money transfer control system is implemented as a web service over an Internet Protocol network, and each said agent terminals implements a web browser application to communicate with said money transfer control system.

16. A computerized money transfer system according to claim 1, wherein said money transfer control system includes an administration interface to allow agents to access respective agent account data in said agent account data store and transaction data in said transaction data store.

17. A computerized money transfer system according to claim 1, wherein said money transfer control system includes account netting off means for allowing agents to determine a net off of their accounts in the accounts data store against any other agent.

18. A computerized money transfer system according to claim 1, wherein at least one agent terminal includes a sending entity recognition device for automatically inputting data identifying a sending entity.

19. A computerized money transfer system implementing a money transfer service for transferring money from a sending entity to at least one receiving entity, the system comprising:

a plurality of agent terminals that are operated by agents of the money transfer service, said agent terminals being interconnected by a communications network,

a money transfer control system connected to the plurality of agent terminals by the communications network, said money transfer control system solely controls and implements a money transfer transaction in the money transfer service, the money transfer system being in a first country with a first currency and first money transfer regulations, the money transfer control system including an agent account data store storing account data for each agent, and a transaction data store storing transaction data for transactions by agents implementing money transfers from a sending entity to at least one receiving entity;

wherein at least one of said agent terminals, located in a second country with a second currency, subject to second money transfer regulations and part of a first organization, is responsive to data input by a sending agent instigating a money transfer requested by a sending entity to at least one receiving entity, and transmits the input data to the money transfer control system;

wherein the input data identifies the sending and receiving entity or entities, the sending agent, and at least one receiving agent in a third country with a third currency, subject to a third money transfer regulations and part of a second organization different than the first organization that is to remit the money transferred thereto to the each receiving entity;

wherein the money transfer control system records the input data in said transaction data store as a transaction from a sending agent to at least one receiving agent for a sending entity and at least one receiving entity, and updates the agent account data in the agent account data store for the sending and receiving agents;

wherein the money transfer control system applies the first, second and third money transfer regulations to the money transfer request;

wherein said money transfer control system includes an interface that allows agents operating agent terminals to be registered as a master agent and other agents to be registered as sub agents, and links the account data in the account data store for the sub agents to the master agent;

wherein the first organization and the second organization are unaffiliated and unrelated, and a money transfer transaction occurs through and is solely controlled by the money transfer control system;

wherein the money transfer control system implements and carries out the money transfer transaction between the sending agent and the at least one receiving agent such that the sending agent communicates with the money transfer control system, and the at least one receiving agent communicates with the money transfer control system; and

wherein neither the sending entity nor the sending agent is required to communicate directly with or send information directly to either one of the at least one receiving agent and the at least one receiving entity, in order to verify or complete the money transfer transaction.

20. A computerized money transfer system according to claim 19, wherein at least one agent terminal operated by an agent registered as a master agent includes a domain money transfer control system to control the implementation of the money transfer service between agents in a set of agent terminals operated by agents registered as sub agents of the master agent, wherein the master agent connects the sub agents to the money transfer control system;

and

said at least one agent terminal including a domain agent account data store storing account data for the set of agents, and a domain transaction data store storing transaction data for transactions between agents in the set of agents.

21. A method of controlling the implementation of a money transfer service for transferring money from a sending entity to at least one receiving entity, by a computerized central money transfer control system connected to a plurality of agent terminals by a communications network, wherein the computerized central money transfer control system solely controls the money transfer, said agent terminals are interconnected by the communications network and are operated by agents to instigate a money transfer requested by a sending entity to at least one receiving entity, the method comprising:

storing account data for each agent in an agent account data store;

receiving, at the computerized central money transfer control system, data from a sending agent terminal in a first country with first money transfer regulations,

wherein the data identifies the sending and receiving entities, the sending agent, and at least one receiving agent that is in a second country with second money transfer regulations and that is to remit the money transferred thereto to the each receiving entity, wherein a computerized central money transfer organization provides the money transfer route between the sending agent and the receiving agent, which are part of unrelated organizations;

recording at the computerized central money transfer control system, the input data in a transaction data store as a transaction from a sending agent to at least one receiving agent for a sending entity and at least one receiving entity;

updating the agent account data in the agent account data store for the sending and receiving agents based on the transactions;

monitoring transactions, at the central money transfer control system, for compliance with the first money transfer regulations and with the second money transfer regulations at the computerized money transfer control system;

wherein the computerized central money transfer control system applies said first money transfer regulations and said second money transfer regulations to the transactions; and

carrying out the money transfer transaction between the sending agent and the at least one receiving agent by the computerized central money transfer control system, wherein neither the sending entity nor sending agent is required to communicate directly with or send information directly to either one of the at least one receiving entity and at least one receiving agent in order to verify or complete the money transfer transaction.

22. A method according to claim 21, wherein the money transfer requested is from a sending currency to a receiving currency,

said agents account data store stores account data for each agent in a local currency for the agent, and the method includes

using the exchange rate data in an exchange rate data store at the computerized money transfer control system to convert currency values for transactions to determine an amount in the receiving currency based on an amount in the sending currency,

storing the amounts as part of the transaction stored in said transaction data store, and

updating the agent account data in the agent account data store for the agents in the local currencies based on the exchange rate data.

23. The method according to claim 22, comprising sending a request for further information from the sending entity to the agent terminal operated by the sending agent if the transaction fits a predetermined criteria, receiving the further information from the agent terminal, and associating the further information with the transaction in the transaction data store.

24. A method according to claim 21, wherein the computerized central money transfer control system controls the transaction based on a comparison of a returned further information and predetermined criteria.

25. A method according to claim 24, wherein the transaction is controlled by the computerized central money transfer control system determining if the received further information matches a predetermined criteria, and if so, blocking the money transfer and transmitting a message to the agent terminal operated by the sending agent to inform the sending agent that the money transfer has been blocked.

26. A method according to claim 21, including the computerized central money transfer control system controlling the transaction by comparing the transaction to predetermined criteria.

27. A method according to claim 26, wherein the transaction is controlled by the computerized central money transfer control system comparing the transaction to money laundering compliance regulatory data representing money laundering compliance regulations, and blocking the transaction if the comparison determines that the transaction contravenes the money laundering compliance regulations.

28. A method according to claim 21, including the computerized central money transfer control system controlling the transaction by reference to the transaction and account data in said account data store for the sending agent.

29. A method according to claim 21, including providing an interface to allow agents operating agent terminals to be registered as a master agent and other agents to be registered as sub agents, and linking the account data in the account data store for the sub agents to the master agent.

30. A method according to claim 21, wherein said received input data from an agent terminal identifies a sending entity and a plurality of receiving entities, and the transaction data is stored in the transaction data store as a single sending transaction indexed for the sending entity and as a plurality of receiving transactions indexed for each receiving entity.

31. A method according to claim 21, wherein said received input data from an agent terminal identifies a sending entity, a sending agent, a plurality of receiving entities and a plurality of receiving agents, and the transaction data is stored in the transaction data store as a single sending transaction indexed for the sending agent and as a plurality of receiving transactions indexed for each receiving agent.

32. A method according to claim 21, including providing as an interface a web service over an Internet Protocol network, wherein each of said agent terminals implements a web browser application to communicate with said money transfer control system.

33. A method according to claim 21, including providing an administration is interface to allow agents to access respective agent account data in said agent account data store and transaction data in said transaction data store.

34. A method according to claim 21, including providing an in interface to allow agents to determine a net off of their accounts in the accounts data store against any other agent.

35. A money transfer system comprising:

a computerized money transfer control system that is connected to a plurality of agent terminals over a communications network, wherein the computerized money transfer control system solely controls and implements a money transfer transaction in a money transfer service that transfers money from a sending entity of a first organization subject to first money laundering regulations to at least one receiving entity of a second organization subject to second money laundering regulations, said agent terminals being interconnected by the communications network and that is operated by agents to instigate a money transfer requested by a sending entity to at least one receiving entity, the agent terminals of the sending entity and the receiving entity are part of different unrelated organizations for a money transfer, and a money transfer occurs through and is solely controlled by the money transfer system, wherein the computerized money transfer control system implements and carries out the money transfer transaction between a sending agent and at least one receiving agent terminal such that the sending agent communicates with the computerized money transfer control system, and the at least one receiving agent communicates with the computerized money transfer control system, and wherein neither the sending entity nor the sending agent is required to communicate directly with or send information directly to either one of the at least one receiving agent and the at least one receiving entity, in order to verify or complete the money transfer transaction, the computerized money transfer control system including;

an agent account data store storing account data for each agent;

a transaction data store storing transaction data for transactions by agents implementing money transfers from a sending entity to at least one receiving entity;

a money laundering regulator that applies both first money laundering regulations and the second money laundering regulations to the money transfer request;

a receiver that receives input data from said agent terminal, wherein the input data identifies the sending and receiving entities, the sending agent, and the at least one receiving agent that is to remit the money transferred thereto to the each receiving entity;

a recorder for recording the input data in said transaction data store as a transaction from the sending agent to the at least one receiving agent for a sending entity and the at least one receiving entity;

an account data updater for updating the agent account data in the agent account data store for the sending and receiving agents based on the transaction; and

a master agent terminal, operated by an agent registered as a master agent, implements a domain money transfer control system to control the implementation of the money transfer service between agents in a set of agent terminals operated by agents registered as sub agents of the master agent, stores account data for the set of agents, and stores transaction data for transactions between agents in the set of agents.

36. A computerized money transfer system implementing a money transfer service for transferring money from a sender to a plurality of receivers, comprising:

a plurality of terminals interconnected by a communications network;

a computerized money transfer control system, connected to the communications network wherein the computerized money transfer control system solely controls and implements a money transfer transaction in the money transfer service, the money transfer control system including a transaction data store storing transaction data for transactions implementing money transfers from a sender to the receivers;

wherein at least one of said terminals, which is in a first transfer regulation jurisdiction and is part of a first organization, is responsive to data that is entered to instigate a money transfer from a sender to at least one receiver that is in at least one second transfer regulation jurisdiction, and transmits the input data to the money transfer control system;

wherein the input data identifies the sender and receivers;

wherein the computerized money transfer control system records the input data in said transaction data store as a transaction from a sender to the plurality of receivers, apportions the transaction to each said receiver, sends data identifying the apportionment for respective receivers to at least one of the other terminals that is a part of a second organization that is unrelated to the first organization, to enable the completion of the money transfer to the respective receivers;

wherein the computerized money transfer control system applies a first money transfer regulation from the first transfer regulation jurisdiction and a second money transfer regulations from the second transfer regulation jurisdiction to the transaction;

wherein the computerized money transfer control system carries out the money transfer transaction between the sender and the at least one receiver that is in at least one second transfer regulation jurisdiction such that the sender communicates with the computerized money transfer control system, and the at least one receiver that is in at least one second transfer regulation jurisdiction communicates with the computerized money transfer control system; and

wherein the sender is not required to communicate directly with or send information directly to the at least one receiver that is in at least one second transfer regulation jurisdiction, in order to verify or complete the money transfer transaction.

37. A computerized money transfer system according to claim 36, wherein said money transfer control system is adapted to store the input data as a single transaction indexed by the sender.

38. A computerized money transfer system according to claim 37, wherein at least one of said terminals is adapted to receive the input data as data representing a single transaction, and said money transfer control system is adapted to store the input data as a plurality of associated transactions associated by the sender and indexed by the receiver.

39. A computerized money transfer system according to claim 36, wherein the senders comprise agents of the money transfer system acting on instruction from sending entities, or the senders comprise sending entities;

and the receivers comprise agents of the computerized money transfer system empowered to remit the transferred money to the receiving entities, or the receivers comprise receiving entities.

40. A computerized money transfer system money transfer control system connecting to a plurality of terminals over a communications network, wherein said computerized money transfer control system solely controls the implementation of a money transfer service for transferring money from a sender to a plurality of receivers through a plurality of countries with distinct money transfer regulations, said terminals being interconnected by the communications network and that instigates a money transfer from a sender to a plurality of receivers, the system comprising:

a transaction data store storing transaction data for transactions implementing money transfers from a sender in a first country to at least one of the receivers in a second country;

a receiver that receives data from a terminal that is a part of a first organization to instigate a money transfer from a sender to a plurality of receivers, wherein the received data identifies the sender in the first country and the receiver in the second country; and

a transaction processor that records the received data in said transaction data store as a transaction from a sender to the plurality of receivers, apportions the transaction to each said receiver, and sends data identifying the apportionment for respective receiver to at least one terminal that is a part of a second organization unrelated to the first organization to enable the completion of the money transfer to the respective receiver;

a money laundering regulation store storing money laundering regulations for each of the countries in which a sender, an intermediary, and a receiver are located; and

a transaction controller that communicates with the money laundering regulation store and that controls transactions by comparing them to the plurality of money laundering compliance regulations of the first country and the second country and any intermediary country;

wherein the transaction processor implements and carries out the money transfer transaction between the sender and the at least one of the receivers in the second country such that the sender communicates with the money transfer control system, and the at least one of the receivers in the second country communicates with the money transfer control system; and

wherein the sender is not required to communicate directly with or send information directly to the at least one of the receivers in the second country, in order to verify or complete the money transfer transaction.

41. A computerized money transfer control system according to claim 40, wherein said transaction controller is adapted to store the input data as a single transaction indexed by the sender.

42. A computerized money transfer control system according to claim 41, wherein said receiver is in the first organization and is adapted to receive the input data as data representing a single transaction, and said transaction controller is in the second organization and is adapted to store the input data as a plurality of associated transactions associated by the sender and indexed by the receiver.

43. A computerized money transfer control system according to claim 40, wherein the senders comprise agents of the money transfer system acting on instruction from sending entities, or the senders comprise sending entities, and wherein the senders are part of a first organization;

and the receivers comprise agents of the money transfer system empowered to remit the transferred money to the receiving entities, or the receivers comprise receiving entities, and wherein the receivers are part of a second organization different from the first organization.

44. The computerized money transfer system of claim 40, wherein the transaction controller is adapted to block transactions in cases where the comparison determines that the transactions contravene at least one of the applicable money laundering compliance regulations, to request further information if a transaction violates the money laundering compliance regulations, and to re-compare the further information and the transaction to the money laundering compliance regulations.

45. A method of controlling the implementation of a money transfer service for transferring money from a sender to a plurality of receivers, including a computerized money transfer control system that solely controls and implements a money transfer transaction in the money transfer service, the computerized money transfer control system being connected to a plurality of terminals over a communications network, said terminals being interconnected by the communications network and that instigates a money transfer from a sender to a plurality of receivers, the method comprising:

receiving data from a terminal that is a part of a first organization to instigate a money transfer from a sender in the first organization with first regulations to a plurality of receivers in at least one second organization with second regulations that are different than the first regulations, wherein the received data identifies the sender and receiver;

recording the received data in a transaction data store as a transaction from a sender to the plurality of receivers;

apportioning the transaction to each said receiver;

sending data identifying the apportionment for respective receiver to at least one terminal that is part of a second organization that is unrelated to the first organization, to enable the completion of the money transfer to the respective receiver;

carrying out the money transfer transaction between the sender and the at least one receiver solely through the use of the computerized money transfer control system, wherein the sender is not required to communicate directly with or send information directly to either one of the at least one receiver in order to verify or complete the money transfer transaction; and

monitoring transactions for compliance with both the first regulations and the second regulations, wherein monitoring includes intervening in the transaction as needed, updating the transaction as needed, and blocking the transaction as needed, sending a request for further information from the sending entity to the agent terminal operated by the sending agent if the transaction fits a predetermined criteria, receiving the further information from an agent terminal, and associating the further information with the transaction in the transaction data store.

46. A method according to claim 45, wherein the input data is stored as a single transaction indexed by the sender.

47. A method according to claim 46, wherein the input data is received as data representing a single transaction, and the input data is stored as a plurality of associate transactions associated by the sender and indexed by the receiver.

48. A method according to claim 45, wherein the senders comprise agents of the money transfer system acting on instruction from sending entities, or the senders comprise sending entities;

and the receivers comprise agents of the money transfer system empowered to remit the transferred money to the receiving entities, or the receivers comprise receiving entities.

49. A method of controlling the implementation of a money transfer service for transferring money from a sending entity to at least one receiving entity, including a computerized money transfer control system that solely controls and implements a money transfer transaction in the money transfer service, the computerized money transfer control system being connected to a plurality of agent terminals over a communications network, said agent terminals being interconnected by the communications network and that is operated by agents to instigate a money transfer requested by a sending entity to at least one receiving entity, the method comprising:

storing account data for each agent in an agent account data store;

receiving data from at least one of said agent terminals, wherein the data identifies the sending and receiving entities, the sending agent, and at least one receiving agent that is to remit the money transferred thereto to the each receiving entity, wherein the sending agent and the receiving agent are part of unrelated organizations;

recording the input data in a transaction data store as a transaction from a sending agent to at least one receiving agent for a sending entity and at least one receiving entity;

updating the agent account data in the agent account data store for the sending and receiving agents based on the transaction;

carrying out the money transfer transaction between the sending agent and the at least one receiving agent through the use of the money transfer control system, wherein neither the sending entity nor sending agent is required to communicate directly with or send information directly to either one of the at least one receiving entity and at least one receiving agent in order to verify or complete the money transfer transaction; and

controlling the transaction by comparing the transaction to predetermined data stored in a money laundering record, which includes the regulations for each country that is part of the money transfer, if the comparison fails, then requesting further data regarding the transaction.

50. A method according to claim 49, wherein controlling the transaction includes the money transfer control system comparing the transaction to money laundering compliance regulatory data representing money laundering compliance regulations, and blocking the transaction if the comparison determines that the transaction contravenes the money laundering compliance regulations.

51. A method according to claim 49, including providing an interface to allow agents operating agent terminals to be registered as a master agent and other agents to be registered as sub agents, and linking the account data in the account data store for the sub agents to the master agent.

52. A method according to claim 49, including providing an administration interface to allow agents to access respective agent account data in said agent account data store and transaction data in said transaction data store.

53. A computerized money transfer system for implementing a money transfer service for transferring money between a sending entity and at least one receiving entity using different unrelated organizations, comprising:

a money transfer control system connected to a communications network, wherein the money transfer control system solely controls and

implements a money transfer transaction in the money transfer service between a plurality of agent terminals operable by agents of the money transfer service and being interconnected by the communications network, wherein the computerized money transfer control system implements and carries out the money transfer transaction between a sending agent and at least one receiving agent such that the sending agent communicates with the money transfer control system, and the at least one receiving agent communicates with the money transfer control system, and wherein neither the sending entity nor the sending agent is required to communicate directly with or send information directly to either one of the at least one receiving agent and the at least one receiving entity, in order to verify or complete the money transfer transaction, the money transfer control system including;

an agent account data store storing account data for each agent; and

a transaction data store storing transaction data for transactions by agents implementing money transfers from sending entities to at least one receiving entity;

a money laundering regulation record that stores and inputs the money laundering regulations for each country in which an agent terminal is located and the money laundering regulations in a country where the money transfer control system is located; and

a financial hierarchy data store storing data indicating whether an agent is under financial responsibility of another agent.

54. The computerized money transfer system of claim 53, wherein the financial hierarchy data store also stores data indicating which agents of a first organization are under the financial responsibility of which other agents of a second organization.

55. The computerized money transfer system of claim 53, wherein data for transactions by given agents is mapped to data for transactions for agents of which they are under financial responsibility.

56. The computerized money transfer system of claim 53, wherein the money transfer control system includes a compliance data store storing predetermined compliance data for transactions.

57. A a computerized money transfer system capable of implementing a money transfer service for transferring money between a sending entity and at least one receiving entity, comprising:

a plurality of agent terminals operable by agents of the money transfer service, said agent terminals interconnected by a communications network;

a first money transfer control system connected to the communications network;

wherein the first money transfer control system solely controls and implements a money transfer transaction in the money transfer service, the first money transfer control system including an agent account data store storing account data for each agent, and a transaction data store storing transaction data for transactions by agents implementing money transfers from sending entities to at least one receiving entity;

wherein the money transfer control system completes the money transfer transaction between a sending entity and the at least one receiving entity using a sending agent and at least one receiving agent, such that the sending agent and at least one receiving agent are a part of unrelated organizations, and the sending agent communicates with the money transfer control system, and the at least one receiving agent communicates with the money transfer control system;

wherein neither the sending entity nor the sending agent is required to communicate directly with or send information directly to the at least one receiving agent or the at least one receiving entity, in order to verify or complete the money transfer transaction; and

a second money transfer control system that controls the compliance of transactions, the second money transfer control system including conformance data for predetermined criteria for assessing transactions and requesting further information if a transaction is not in conformance, and a money laundering regulation record for each country in which at least one of the plurality of agent terminals is located.

58. The computerized money transfer system of claim 57, wherein the second money transfer system is operable to block transactions meeting the predetermined criteria for assessing transactions.

59. A computerized money transfer system capable of implementing a money transfer service for transferring money between a sender and at least one receiver, using a sending terminal and at least one receiving terminal, the computerized money transfer system including a computerized money transfer control system that solely controls and implements a money transfer transaction in the money transfer service, the money transfer control system comprising:

a central database that stores data relating to money transfer operations;

a transaction processor coupled to the database and that executes money transfer functions;

a transaction data store that stores transaction data;

a communication connection coupled to the transaction processor and to communicate with a plurality of terminals over a communications network, including at least one terminal being governed by different money transfer regulations than the transaction processor, the communication connection electronically receives money transfer instruction from a sending terminal that is part of a first organization and sends money transfer instruction to at least one receiving terminal that is part of a second organization that is unrelated to the first organization, as approved by the transaction processor;

wherein the central database stores at least data relating to money transfer regulations for each country in which a terminal resides that can interact with the transaction processor over the communication connection;

wherein the transaction processor retrieves money transfer regulations from the central database that are required for each transaction and applies the money transfer regulations for each terminal involved in the transaction including requesting additional transaction data required by at least one of the terminals and the money transfer regulations of the transaction processor;

wherein the transaction processor applies credit control for each terminal involved in the transaction;

wherein the transaction processor conducts accounting for each terminal involved in the transaction;

wherein the communication connections enables the transaction processor to implement and carry out the money transfer transaction between the sending terminal and the at least one receiving terminal such that the sending terminal communicates with the transaction processor, and the at least one receiving terminal communicates with the money transaction processor;

wherein the sending terminal is not required to communicate directly with or send information directly to the at least one receiving terminal in order to verify or complete the money transfer transaction; and

a money laundering interface coupled to at least one of the transaction processor and the central database.

60. A computerized money transfer system capable of implementing a money transfer service for transferring money from a sending entity to at least one receiving entity, comprising:

a plurality of agent terminals that are operated by agents of the money transfer service, said agent terminals being interconnected by a communications network;

a money transfer control system connected to the communications network, wherein the money transfer control system solely controls and implements a money transfer transaction in the money transfer service, the money transfer control system including an agent account data store storing account data for each agent, and a transaction data store storing transaction data for transactions by agents implementing money transfers from a sending entity to at least one receiving entity, wherein the money transfer control system is positioned in a first location with first money transfer regulations;

wherein at least one of said agent terminals, located in a second location with second money transfer regulations, which may be the same or different from the first money transfer regulations, is responsive to data, input by a sending agent instigating a money transfer requested by a sending entity to at least one receiving entity, and transmits the input data to the money transfer control system;

wherein the input data identifies the sending and receiving entity or entities, the sending agent, and at least one receiving agent that is to remit the money transferred thereto to the each receiving entity;

wherein the money transfer control system records the input data in said transaction data store as a transaction from a sending agent to at least one receiving agent for a sending, entity and at least one receiving entity with the sending agent terminal and the receiving agent terminal being in separate locations, and to update the agent account data in the agent account data store for the sending and receiving agents;

wherein the sending agent and the at least one receiving agent are a part of unaffiliated and unrelated organizations, and a money transfer transaction occurs through and is solely controlled by the money transfer control system;

wherein the money transfer control system carries out the money transfer transaction between the sending agent and the at least one receiving agent such that the sending agent communicates with the money transfer control system, and the at least one receiving agent communicates with the money transfer control system; and

wherein neither the sending entity nor the sending agent is required to communicate directly with or send information directly to either one of the at least one receiving agent and the at least one receiving entity, in order to verify or complete the money transfer transaction.