Systems And Methods For Automated Political Risk Management

Abstract

Some embodiments include a system, method, apparatus and means for automated political risk management. According to some embodiments, a computer-implemented method to facilitate management of risk related to political exposure associated with a financial transaction may include receiving financial transaction data associated with the transaction, determining that a participant is a politically identified person, calculating a first category political risk score based on the financial transaction data, calculating a second category political risk score based on the financial transaction data, calculating an overall transaction political risk quotient associated with the financial transaction based on the first and the second category politically risk scores, and generating a suggested action for the financial transaction based on the overall transaction political risk quotient.

We claim: 
     
         1 . A computer-implemented method to facilitate management of risk related to political exposure associated with a financial transaction, comprising:
 receiving financial transaction data associated with the transaction;   determining that the participant is a politically identified person (“PIP”) by:
 comparing data identifying a participant associated with the financial transaction data to information stored in a database, wherein comparing comprises searching for both identical and similar names in the database; and 
 verifying the data identifying a participant by comparing the financial transaction data to information associated with the data identifying a participant stored in the database if the data identifying a participant matches a name in the database; 
   calculating a first category political risk score based on the financial transaction data;   calculating a second category political risk score based on the financial transaction data;   calculating, based on the first and second category politically risk scores, an overall transaction political risk quotient associated with the financial transaction;   generating, based on the overall transaction political risk quotient, a suggested action for the financial transaction; and   delivering the matching name and a suggested action to a user interface in a format based on a user preference and a user device configuration.   
     
     
         2 . The computer-implemented method of  claim 1 , wherein the first category political risk score is an indication that a participant in the financial transaction is at least one of: (i) an elected official, (ii) a bureaucrat, (iii) a political appointee, (iv) a World Bank Official, and (v) a military personnel. 
     
     
         3 . The computer-implemented method of  claim 1 , wherein the financial transaction data is pre-qualified. 
     
     
         4 . The computer-implemented method of  claim 1 , wherein the overall transaction political risk quotient is further calculated based on weights applied to said first and second category political risk scores. 
     
     
         5 . The computer-implemented method of  claim 1 , wherein the suggested action is at least one of: (i) a recommendation to decline the financial transaction; (ii) a recommendation to gather additional information associated with the financial transaction; (iii) a recommendation to monitor the financial transaction; and (iv) notifying an authority. 
     
     
         6 . The computer-implemented method of  claim 1 , wherein the financial transaction is at least one of: (i) a request to open a new account; and (ii) a transaction associated with an existing account. 
     
     
         7 . The computer-implemented method of  claim 1 , wherein the financial transaction is associated with a financial institution, the method further comprising:
 aggregating the overall transaction political risk quotient with a plurality of overall transaction political risk quotients associated with a plurality of financial transactions to identify an aggregate political risk quotient associated with the financial institution.