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Improper financial activity detection tool

  • US 9,947,044 B2
  • Filed: 01/06/2014
  • Issued: 04/17/2018
  • Est. Priority Date: 01/06/2014
  • Status: Active Grant
First Claim
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1. A method to electronically identify a plurality of individuals performing improper financial activity, the method comprising:

  • monitoring, by a transaction monitoring system at a first network location, a plurality of financial transactions for signs of improper financial activity, wherein the plurality of financial transactions are electronic transactions received via a plurality of remote computing devices;

    generating, by the transaction monitoring system, a first list of identifiers, the first list of identifiers comprising one or more user identifiers identifying a particular individual suspected of being associated with improper financial activity performed by the plurality of individuals;

    presenting, via a user interface device, a user interface screen to facilitate identification of a ring of individuals performing improper financial activities, the user interface screen for selecting a list of financial transaction attributes to be included in one or more attribute tables wherein the list of financial transaction attributes includes at least a sentinel cookie attribute and a device fingerprint attribute;

    combining, by an analysis tool implemented on a computing device at a second network location, a first list of identifiers with a first attribute table, wherein the first list of identifiers includes at least one identifier suspected of being associated with one or more improper financial activities and wherein the first attribute table corresponds to one or more attributes of financial transactions performed during a specified duration, the attributes including at least the sentinel cookie attribute and the device fingerprint attribute;

    recursively linking until a stopping condition has been met, by the analysis tool, a digital file comprising the first list of identifiers with an attribute included in the first attribute table, wherein the stopping condition comprises a maximum number of links and wherein each link comprises a match between an identifier in the first list of identifiers with one or more attributes of the first attribute table;

    generating, by the analysis tool, a composite table as a merged combination of the first list of identifiers and a portion of the first attribute table, wherein each row of the composite table includes a count parameter that corresponds to a number of times that a particular input party identifier and attribute combination were linked using first attribute table data for a specified time period;

    repeating the recursively linking step and the generating the composite table step until the stopping condition has been met, wherein the composite table of a previous iteration is used as a second list of identifiers in a successive iteration;

    generating, by the analysis tool, a first report when the stopping condition has been met, the stopping condition comprising one or both of a specified number of iterations and a maximum list size; and

    communicating, by the analysis tool the first report to a user, the first report including at least a portion of the composite table including a plurality of rows each including an identifier from the first or the second list of identifiers linked with one or more attributes of the first attribute table.

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