What is Anti-Money Laundering (AML) Transaction Monitoring?

AML transaction monitoring software allows banks and other financial institutions to monitor customer transactions on a daily basis or in real-time for risk. By combining this information with analysis for customer's historic information and account profile, the software can provide financial institutions with a whole picture analysis of a customer's profile, risk levels and predicted future activity. It can also generate reports and create alerts to suspicious activity. The transactions monitored can include cash deposits and withdrawals, wire transfers and Automated Clearing House (ACH) activity.<br/><br/>

AML transaction monitoring screens the customer's activity to try and spot anomalies or deviations that could be suspicious.<br/><br/>

For clarity, transactions monitoring and sanctions screening on payments are different activities but many systems combine them.

Previous