Systems and method for screening payment transactions

US8170953B1 · kind B1 · utility

Assignee

• Visa International Service Association · US

Inventors

• John Tullis · San Francisco, US
• Mark Norris · San Francisco, US
• Vishwanath Shastry · Mountain View, US
• Kate J. Kennedy · Roseville, US
• Justin Chace · Redwood City, US
• Susan French · Foster City, US

Key dates

• Filing date: Mar 18, 2011
• Grant date: May 1, 2012
• Expiry date: Mar 18, 2031

Classification

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

Abstract

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.