COMPLIANCE ENHANCEMENTS DUE DILIGENCE AT STAGING
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United States of America Patent
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Issued Date -
Jun 23, 2016
app pub date -
Dec 23, 2014
filing date -
Dec 23, 2014
priority date (Note) -
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Abstract
A method includes receiving a request for a money transfer transaction. The request includes staging information that includes an identity of the party to the money transfer transaction. The method includes determining whether to place a hold on the money transfer transaction based, at least in part, on the staging information. When a hold is placed on the money transfer transaction, the method includes initiating one or more due diligence operations to determine whether to remove the hold on the money transfer transaction. The method includes, providing confirmation information to the party if the hold is removed. The confirmation information may authorize the party to participate in the requested money transfer transaction. The due diligence operations may be performed prior to the party interacting with (e.g., providing funds to or receiving funds from) a money transfer agent at a money transfer location.
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