Statistical prioritization and detection of potential financial crime events

US8706587B1 · kind B1 · utility

Assignee

• Bank of America Corporation · US

Inventors

• Rogelio Olarte Bautista, Jr. · Chesterfield, US
• Daniel Kern · Frankfurt am Main, DE
• Joan F. Pilsmaker · Milton, US
• Matthew R. Quinn · Wilmington, US
• Peter Colin RICHARDS · Pembroke, US

Key dates

• Filing date: Feb 28, 2008
• Grant date: Apr 22, 2014
• Expiry date: Apr 29, 2030

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/02
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Systems and methods for calculating financial crimes ratings for banking entities are provided. High risk transaction data for a plurality of similarly situated banking entities is collected. The banking entities may include banking centers, business customers, individual customers or other banking entities. Summary data is then calculated from the high risk transaction data. The summary data for a banking entity is then compared to summary data of the similarly situated banking entities to calculate the rating. Financial crimes ratings may be used to allocate investigation and enforcement resources.