Systems and method for screening payment transactions

Methods and systems for anti money laundering screening are provided. The method includes determining a risk score and a first validation code associated with the risk score, based on information related to a funds transfer transaction and independently calculating a second validation code and compa...

Full description

Saved in:
Bibliographic Details
Main Authors Tullis, John, Norris, Mark, Shastry, Vishwanath, Kennedy, Kate J, Chace, Justin Mason, French, Susan
Format Patent
LanguageEnglish
Published 01.05.2012
Online AccessGet full text

Cover

More Information
Summary:Methods and systems for anti money laundering screening are provided. The method includes determining a risk score and a first validation code associated with the risk score, based on information related to a funds transfer transaction and independently calculating a second validation code and comparing with the first validation code. The method further includes including the risk score and the validation score in a payment authorization message. The receiving financial entity accepts or denies the incoming funds transfer based on the risk score included in the payment authorization message.