Method and system for monitoring transactions
US7505931B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Mar 3, 2003 |
| Grant date | Mar 17, 2009 |
| Priority date | — |
| Expiry date | May 25, 2024 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method for monitoring financial accounts to determine the possibility of money laundering and other attempts at fraud includes monitoring the financial accounts owned by a person or entity. Data regarding withdrawals and deposits are extracted from a computer database and analyzed. The analysis includes determining the amount of time between a large deposit and the withdrawal (in one or more transactions) of a large portion of the deposit. A further analysis may include determining the amount of time between a large withdrawal and the time of the earliest deposit, wherein multiple deposits may be combined. Using the above-described data, accounts that are more likely to be used for money laundering and other fraudulent activities.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.