Method and system for administering money laundering prevention program

US8095441B2 · kind B2 · utility

Assignee

• Barclays Capital Inc. · US

Inventors

• Bruce Wu · Nanhu, CN
• Wai-Ki Hui · Delta, CA
• Arvydas Balionis · Hoboken, US
• Erika Wessel · New York, US
• David W. Cheng · Union City, US
• Harvey Kaminsky · Merrick, US
• Kenneth Kollar · Staten Island, US
• Patrick Kidney · Kinnelon, US

Key dates

• Filing date: Nov 1, 2005
• Grant date: Jan 10, 2012
• Expiry date: Mar 15, 2028

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/03
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A money laundering prevention program administered by a financial institution. A plurality of risk factors associated with a potential for conducting illicit activities in connection with an account held at the financial institution are identified. The risk factors include jurisdiction-based risk factors, entity type-based risk factors, and/or business type-based risk factors. The risk factors are ranked and, based on the rank, each of the risk factors is assigned to a tier. Each of the tiers represents a level of risk that illicit activities will be conducted in connection with the account.