Transaction Monitoring for AML

Money laundering transactions are estimated at 2 to 5 percent of global domestic product annually, that’s roughly $1 trillion to $2 trillion. No wonder the regulatory authorities require banks to do more to stop this criminal behavior. But constantly changing regulation is not the only problem banks face. With such vast sums at stake, the criminals keep reinventing themselves and their modus operandi.

NetGuardians’ enterprise risk platform adds the power of dynamic profiling and machine learning to the static rules to address the AML requirements in the most compelling way. It builds dynamic profiles for each customer against which a bank can check every transaction – in real time.

New regulation can be accommodated easily and because our solution looks for out-of-character customer behavior rather than criminal behavior, the need to keep up with new money laundering techniques is obviated.

NetGuardians' enterprise risk platform identifies:

These behaviours trigger alerts that are sent to the responsible department where staff can investigate, block or allow a transaction. Customer profiles are constantly updated so false positives are kept to a minimum, ensuring the optimum use of bank resources and giving a great customer experience.

 

LEarn more


explore other solutions

Fraud detection for SWIFT

Fraud detection for SWIFT

Beating Internet Banking fraud

Beating Internet Banking fraud

Beating internal fraud

Beating internal fraud

Beating mBanking fraud

Beating mBanking fraud

Beating payment fraud

Beating payment fraud