Title:
METHOD AND SYSTEM FOR MONITORING TRANSACTIONS
Document Type and Number:
WIPO Patent Application WO2004079508
Kind Code:
B1
Abstract:
A method for monitoring financial accounts to determine the possibility of money laundering and other attempts at fraud includes monitoring the financial accounts owned by a person or entity. Data regarding withdrawals and deposits are extracted from a computer database and analyzed. The analysis includes determining the amount of time between a large deposit and the withdrawal (in one or more transactions) of a large portion of the deposit. A further analysis may include determining the amount of time between a large withdrawal and the time of the earliest deposit, wherein multiple deposits may be combined. Using the above-described data, accounts that are more likely to be used for money laundering and other fraudulent activities.
Inventors:
DASILVA SIMON
Application Number:
PCT/US2004/004745
Publication Date:
August 04, 2005
Filing Date:
February 17, 2004
Export Citation:
Assignee:
AMERICAN EXPRESS TRAVEL RELATE (US)
International Classes:
G06Q20/10; G06Q40/00; G06Q40/02; (IPC1-7): G06F17/60
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