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Why is transaction monitoring key over and above onboarding checks?
Transaction monitoring is key over and above onboarding checks because it helps financial institutions detect and respond to suspicious activity in real-time. Onboarding checks, such as customer identification and due diligence, are important for identifying and mitigating money laundering risks when a new customer is first onboarded. However, these checks only provide a snapshot of […]
Key challenges Financial Institutions face when tuning AML Transaction Monitoring software
Financial institutions across the globe are under unprecedented regulatory pressure to improve their AML Transaction Monitoring systems and ensure they are correctly tuned to detect money laundering and terrorist financing. Recent fines given to institutions who failed to detect suspicious activity and therefore meet regulatory standards have served to demonstrate the importance of having an […]
