Patent ID: 8768803

Claim:
A computer system for detecting questionable financial transactions by individual clients, the computer system comprising: a data source component configured to access a database of financial transaction data; a data storage component, coupled to the data source component, and configured to store the financial transaction data; an account compilation component, including a processor and coupled to the data storage component, and configured to: receive one or more financial transactions; compare each of the received financial transactions to a list of excluded internal transaction types, wherein the list includes systematic redemption transactions, dealer account transactions, omnibus account transactions, dividend transactions, capital gain transactions, and redemption transactions due to death of an account holder; determine for each of the financial transactions based on the comparison whether the financial transaction is an excluded internal transaction; responsive to a determination that the financial transaction is an excluded internal transaction, exclude the financial transaction from additional screening; responsive to a determination that the financial transaction is not an excluded internal transaction, add the financial transaction to a dataset for the individual client that performed the financial transaction, thereby compiling separate data sets for one or more of the individual clients from the financial transaction data, each data set comprising pertinent external financial transactions in the financial transaction data that are related to a respective individual client during a screening time interval; a screening component, including a processor and coupled to the account compilation component, and configured to compare, for each of the data sets, the external financial transactions for the respective individual client in the data set with at least one screening criterion, wherein said at least one screening criterion includes one of a criterion based on an aggregate monetary amount of all external financial transactions in a respective dataset, and an aggregate number of all external financial transactions within the screening time interval in the respective dataset; determine, based on the comparison, if the dataset for the respective individual client includes financial transactions that match the at least one screening criterion; and responsive to a determination that the dataset matches the at least one screening criterion, add the dataset to a monitoring report; and a reporting component, coupled to the screening component, and configured to report each data set for each respective individual client that satisfies the at least one screening criterion.