Transaction monitoring typically involves a combination of different mechanisms and checks to detect suspicious activity. Some of the most common mechanisms and checks include:
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
ComplyRadar is sponsoring the Governance, Risk and Compliance Summit 2023 organised by the Malta Stock Exchange. The summit will take place at the Westin Dragonara
A move to save big economies from being included in the gray list
The need for AML compliance / transaction monitoring solutions, at face value, can be considered a necessary requirement, or expense, induced by regulators. However, one
Although the identification of suspicious activity is core to an AML solution, an equally important component is the effectiveness of how to manage the investigative
Once the customers demand for services increases and business growth ensues, transaction volumes and variety become so large that a one-size-fits-all transaction monitoring approach no
The question that follows, is how can artificial intelligence assist organisations with combatting Money Laundering? Although in essence the ultimate question which needs to be
What is Adverse Media and why do we need it? Globally there is a spotlight on regulated industries and the general trend right now is
In recent times, we have seen a major increase in electronic transactions in part due to Covid19 and the reduction in cash transactions, but also with the increase
Money laundering and prevention of risky financial activities has proven to be a challenge to tackle for regulated companies. With technological advancements, come more intuitive
FinXP, a European payments and banking service provider, has implemented the intelligent compliance technology solution ComplyRadar to enhance and automate transaction monitoring and help with case
Rarely a week goes by that we do not hear of the latest multi-million fine being imposed on a bank or a financial institution or
A transaction monitoring (TM) solution focusing on Anti-money laundering (AML), Fraud or Responsible Gambling, provides financial institutions with the tools to monitor customer transactions and
The year of the pandemic brought on a new dimension of accelerated illicit activities by individuals or organisations who engage in online fraud. It created
Anomaly detection is an advanced technique that uses an organisations’ data and machine learning to detect behaviour that doesn’t fit within the expected normal behaviour
It has ever been more important for companies to adhere to strict AML compliance rules. Not only is there a heavy price to pay, but
We are all aware just how the world has changed in recent times, becoming even more uncertain with companies struggling to streamline their operations to
Organisations all over the world are constantly striving to protect their business against financial crimes. In this journey, they are aided by regulators through the
Over the past couple years we have been successfully implementing AML solutions for financial, gaming and payment service organizations. Our flagship product, ComplyRadar, is one
Currently, the European Merchant Bank has 38 employees, with 4 dedicated to compliance. The European Merchant Bank is a banking institution registered in Lithuania, serving
The goAML portal came into being in June 2017 when the Irish reporting entities were required to hand in their regulatory reports to the Irish
When it comes to fighting fraud and money laundering, the connection between the two is critical as fraudsters work to find a way to legitimize
It is estimated that around 2 to 5 percent of global GDP, or $800 billion to $2 trillion a year fall victim to money laundering.
The effects of Covid-19 have been felt in every industry, in every country. As the world continues the fight to quell the virus, everything about
The fight against fraud and money laundering no longer sees businesses and compliance personnel going up against easily identifiable, shady criminals. Auditors can no longer
As a result of the ongoing global struggle with the COVID-19 pandemic, financial institutions are experiencing novel compliance challenges linked to this outbreak. The new
Having a correctly tuned AML solution is essential for any organization dealing with high volumes of financial transactions. With compliance risks being higher nowadays, regulators
Active or real time monitoring of financial transactions should be the order of the day for institutions and businesses handling high volumes of deposits and
It’s estimated that money laundering (ML) transactions account for anywhere between 2% to 5% of global GDP. This amounts to roughly $2 trillion per annum.
Although we live in a cutting-edge, modern tech world, a large number of payment service providers still use outdated, static systems to flag and identify
Adherence to compliance regulations is no easy feat for financial institutions. The compliance team depends on immense accuracy and timely information to get their tasks
It’s all fun and games – until it’s not. Although gambling is a popular and undeniably fun pastime, it should not be treated as a
There are few industries as rapidly evolving as iGaming – that much is a fact. Every day brings exciting new developments in the tech world,
Is problem gambling becoming something of a public health emergency? This is the question on everyone’s mind in the iGaming industry, and to be completely
We’re living in the digital age, meaning we’re all too familiar with how the online sphere has dominated the world of financial transactions, particularly in
Even if you’re not directly involved in the Banking & Finance or Gambling & iGaming sectors, there’s a pretty good chance that you’ve at least
Data scientists have done a great deal for us in the way of making our financial lives easier and, without a doubt, more secure than
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
With the rise of money laundering and online fraud, iGaming & Gambling companies everywhere have had to up their game and optimise their transaction monitoring
ComplyRadar helps you address AML transaction monitoring requirements by automatically identifying suspicious behaviour in real-time or on a scheduled basis, while minimising false positives.
