Consumer Due Diligence For Money Transfer Systems And Methods

A money transfer system comprising:

• a host computer system;
• and
• a plurality of point of sale devices at money transfer origination locations in communication with the host computer system;
• wherein each point of sale device is configured to:
• receive transaction details for a requested money transfer by a sender to a recipient, wherein the details include at least a sender name, a recipient name, and a transfer amount;
• determine whether the requested transaction is an allowable transaction;
• abort the transaction if the transaction is determined not to be an allowable transaction;
• and
• transfer the transaction details to the host computer system;
• wherein the host computer system is configured to:
• attempt to identify the sender as an existing customer using the transaction details, wherein existing customers have a previously-assigned unique customer identifier and transaction history stored in a record accessible to the host computer system;
• send a message to the point of sale device that additional information is required if the attempt to identify the sender as an existing customer is unsuccessful;
• receive the additional information;
• attempt to identify the sender as an existing customer using the transaction details and the additional information;
• recall the sender's transaction history if the sender can be identified as an existing customer;
• use the sender's transaction history and the transaction details to determine whether to allow the requested transaction to proceed;
• store at least a portion of the transaction details and the additional information in a record with the sender's unique customer identifier;
• create a money transfer record for the requested transaction;
• associate a money transfer control number to the money transfer record;
• and
• use at least a portion of the transaction details to determine whether to monitor the requested transaction.

A computerized method of processing money transfer transactions, comprising:

• establishing a plurality of processing rules;
• storing the processing rules such that the rules are accessible to each of a plurality of money transfer point of sale devices located at money transfer origination locations;
• at a money transfer origination location and in response to a request by a sender customer to initiate a money transfer transaction, receiving a first set of data into one of the plurality of money transfer point of sale devices, wherein the first set of data includes at least a sender name, a recipient name, and a transfer amount;
• applying one or more of the plurality of rules to the first set of data to determine whether the requested transaction is an allowable transaction;
• if the transaction is determined not to be an allowable transaction, aborting the transaction;
• if the transaction is determined to be an allowable transaction, applying one or more of the plurality of rules to the first set of data to attempt to identify the sender as a previous customer having a previously-assigned unique customer identifier and associated transaction history;
• if the attempt to identify the sender as a previous customer is unsuccessful:
• displaying a prompt on the point of sale device that additional data is required;
• receiving the additional data into the point of sale device;
• and
• applying one or more of the plurality of rules to the additional data to attempt to identify the sender as a previous customer;
• if the sender cannot be identified as a previous customer:
• assigning a unique customer identifier to the sender;
• allowing the transaction to proceed;
• and
• storing at least a portion of the first set of data and the additional data as transaction history in a record with the sender's unique customer identifier;
• if the sender can be identified as a previous customer:
• recalling the sender's transaction history;
• and
• using the sender's transaction history and at least a portion of the first set of data and the additional data to determine whether to allow the money transfer transaction to proceed;
• if the money transfer transaction is allowed to proceed:
• creating a money transfer record for the money transfer transaction;
• associating a money transfer control number to the money transfer record;
• and
• using at least a portion of the sender's transaction history, the first set of data, and the additional data to determine whether to monitor the money transfer transaction.