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US 7,805,362 B1Granted
Methods of and systems for money laundering risk assessment
AssigneeUnited Services Automobile Association (USAA)
InventorsDaniel James Merrell, Susan Beth Van Horn
Life of this patent
Estimating the term…
Abstract
A method of assessing money-laundering risk of an individual includes gathering geographic information, personal information, and product information regarding the individual, determining a risk value of the geographic information, a risk value of the personal information, and a risk value of the product information, weighting each of the geographic information risk value, the personal information risk value, and the product information risk value, and summing the weighted risk values to yield a money-laundering risk score.
Claims18
A computer-implemented method of assessing money-laundering risk of an individual, the method comprising:
- using a server comprising at least one processor configured for:
- gathering, geographic information, personal information, and product information regarding the individual, the product information including information regarding a product of a financial institution purchased by the individual;
- determining a risk value of the geographic information, a risk value of the personal information, and a risk value of the product information;
- weighting each of the geographic information risk value, the personal information risk value, and the product information risk value;
- summing the weighted values to yield a money-laundering risk score;
- determining whether the geographic information, personal information, and product information include an overriding risk attribute, wherein overriding risk attributes are a subset including one or more of the plurality of geographic-, personal-, and product-information-components that are particular risk components requiring enhanced consideration, and an individual risk value associated therewith;
- determining a trump score for each determined overriding risk attribute and the individual risk value associated therewith;
- comparing the money-laundering risk score to each determined trump score of each determined overriding risk attribute;
- replacing the calculated money-laundering risk score with a maximum of the respective determined trump scores of each determined overriding risk attribute when at least one of the respective trump scores exceeds the calculated money-laundering risk score;
- and using a resulting selection of the calculated money-laundering risk score or the maximum of the respective determined trump scores to assess the money-laundering risk of the individual.
7 more elements
A computer implemented system for assessing money-laundering risk of an individual, the system comprising:
- a server comprising at least one processor configured to:
- gather geographic information, personal information, and product information regarding the individual, the product information including information regarding a product of a financial institution purchased by the individual;
- determining a risk value of the geographic information, a risk value of the personal information, and a risk value of the product information;
- weight each of the geographic information risk value, the personal information risk value, and the product information risk value;
- sum the weighted values to yield a money-laundering risk score;
- determine whether the geographic information, personal information, and product information include an overriding risk attribute, wherein overriding risk attributes are a subset including one or more of the plurality of geographic-, personal-, and product-information-components that are particular risk components requiring enhanced consideration, and an individual risk value associated therewith;
- determine a trump score for each determined overriding risk attribute and the individual risk value associated therewith;
- compare the money-laundering risk score to each determined trump score of each determined overriding risk attribute;
- replace the calculated money-laundering risk score with a maximum of the respective determined trump scores of each determined overriding risk attribute when at least one of the respective trump scores exceeds the money-laundering risk score;
- and use a resulting selection of the calculated money-laundering risk score or the maximum of the respective determined trump scores to assess the money-laundering risk of the individual;
- and wherein at least one database is interoperably coupled to the server.
8 more elements
An article of manufacture for assessing money-laundering risk of an individual on a computer system, the article of manufacture comprising:
- at least one computer readable medium;
- computer readable instructions contained on the at least one computer readable medium, the computer readable instructions configured to be readable from the at least one computer readable medium by at least one processor of a computer to:
- gather, geographic information, personal information, and product information regarding the individual, the product information including information regarding a product of a financial institution purchased by the individual;
- determining a risk value of the geographic information, a risk value of the personal information, and a risk value of the product information;
- weight each of the geographic information risk value, the personal information risk value, and the product information risk value;
- sum the weighted values to yield a money-laundering risk score;
- determining whether the geographic information, personal information, and product information include an overriding risk attribute, wherein overriding risk attributes are a subset including one or more of the plurality of geographic-, personal-, and product-information-components that are particular risk components requiring enhanced consideration, and an individual risk value associated therewith;
- determine a trump score for each determined overriding risk attribute and the individual risk value associated therewith;
- compare the money-laundering risk score to each determined trump score of each determined overriding risk attribute;
- replace the money-laundering risk score with a maximum of the respective determined trump scores of each determined overriding risk attribute when at least one of the respective trump scores exceeds the calculated money-laundering risk score;
- and use a resulting selection of the calculated money-laundering risk score or the maximum of the respective determined trump scores to assess the money-laundering risk of the individual.
8 more elements
Dependencies are inferred from the claim text.