Transaction Surveillance

Transaction monitoring is the process of monitoring a customer’s transactions such as transfers, deposits and withdrawals to identify suspicious behavior which could indicate money laundering or other financial crime occurring. Transaction monitoring is a mandatory process for any organization that falls within the remit of the money laundering regulations, and it may follow a simple, traditional rule-based approach or be enhanced with artificial intelligence to detect unknown suspicious activity and equip analysts with vital intelligence. 

Transactions that the monitoring system flag as suspicious need to be investigated by analysts to determine whether the alert is a true hit or a false positive, by separating “innocent” transactions from the suspicious, as criminals constantly evolve their methods of money laundering. True hits should be filed as a suspicious transaction report (STR) to alert law enforcement about suspected cases of money laundering or terrorist financing. Ongoing transaction monitoring is a regulatory requirement for all businesses that fall under money laundering regulations. 

Aside offering transaction monitoring (TM) technologies, FCRM Limited provides TM analysts taskforce to help financial institutions analyze and clear any backlogs of alerts without compromise to client’s data confidentiality.