Systems and methods for screening payment transactions

US8296232B2 · kind B2 · 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: Oct 23, 2012
• Expiry date: Mar 18, 2031

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/06
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Methods and systems for anti money laundering screening are provided. A risk score and a first validation code is determined based on information related to a funds transfer transaction. The first validation code is associated with the risk score. Thereafter, a second validation code is calculated and compared with the first validation code. The risk score and the validation score are included in a payment authorization message sent to a payment processing network. The payment processing network extracts the validation code and communicates the payment authorization message including the risk score to a receiving financial institution. The receiving financial entity accepts or denies the incoming funds transfer based on the risk score included in the payment authorization message.