Method and system to evaluate anti-money laundering risk
AssigneeBank of America Corporation
InventorsHenry W. Grant, Jr., Tyler Reynolds
Life of this patent
Estimating the term…
Abstract
A method to evaluate anti-money laundering risk may include identifying a person or other legal entity to be evaluated. A country may be selected associated with the person or other legal entity. At least one financial product or financial instrument associated with the person or other legal entity may be selected. The method may also include selecting a customer type associated with the person or other legal entity. A risk rating may be determined based on responses to predetermined criteria related to the selected country, the at least one selected financial product and the selected customer type.
Claims18
A method to evaluate anti-money laundering risk, comprising:
- identifying a person or other legal entity to be evaluated;
- selecting a country associated with the person or other legal entity;
- selecting at least one financial product or investment associated with the person or other legal entity;
- selecting a customer type associated with the person or other legal entity;
- determining a risk rating for evaluating anti-money laundering risk, using a computer, based on responses to predetermined criteria or questions related to the country, the at least one financial product or investment and the customer type, wherein the determining the risk rating comprises:
- evaluating a sophistication of the person or other legal entity with respect to the at least one selected financial product or investment;
- and
- determining the at least one selected financial product or investment's propensity for use for money laundering;
- and
- presenting the risk rating to a user.
A system to evaluate anti-money laundering risk, comprising:
- a server;
- and
- a risk rating tool operable on the server,
- wherein the risk rating tool is adapted to determine a risk rating of a person or other legal entity to be evaluated based on responses to predetermined criteria related to a selected country associated with the person or other legal entity, at least one selected financial product associated with the person or other legal entity, and a selected customer type associated with the person or other legal entity;
- and
- wherein the risk rating tool is programmed to determine a risk rating based on responses to the predetermined criteria related to at least one selected financial product or investment, the predetermined criteria comprising
- a customer sophistication with respect to the selected financial product or investment;
- a propensity of the selected financial product or investment for use for money laundering.
Dependencies are inferred from the claim text.