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Do I need real-time fraud detection?

The Regulatory Technical Standards (<a href="/glossarycollection/regulatory-technical-standards" style="color:#48277C;" target="_blank" title="Regulatory Technical Standards"><u>RTS</u></a>) do not explicitly state that real-time monitoring is required although this is implied.<br/><br/>

The European Banking Authority (<a href="/glossarycollection/european-banking-authority" style="color:#48277C;" target="_blank" title="European Banking Authority"><u>EBA</u></a>) clarified in their Q&A guidance that real-time fraud monitoring must be present to enable the Transaction Risk Analysis (<a href="/glossarycollection/transaction-risk-analysis" style="color:#48277C;" target="_blank" title="Transaction Risk Analysis"><u>TRA</u></a>) Exemption in Article 18.

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