Aug
Transaction Monitoring Investigation: Steps and Process Flow Explained
Transaction monitoring investigation is a cornerstone of anti-money laundering (AML) compliance for financial institutions and other AML-regulated businesses. This piece outlines the core transaction monitoring steps required for businesses to fulfill AML compliance and avert financial crimes. Key takeaways on…
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Aug
12 Types of Money Laundering: Methods and Schemes
Endless as the count may be, in this piece, we'll discuss the 12 most common types of money laundering methods and money laundering schemes exploited by criminals as part of predicate crimes. A quick brushup on money laundering--Money laundering is…
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Aug
How To Calculate False Positives in Transaction Monitoring (And Reduce Them)
Let’s start with a scenario we’ve all seen: a perfectly legitimate transaction gets flagged as suspicious. That’s a false positive, and it’s a headache, especially in our world where AML compliance is non-negotiable. What are False Positives in Transaction Monitoring?…
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Aug
Sanctions Vs. Embargo—What’s the Difference?
Sanctions are targeted and specific, while embargoes are comprehensive and broad-reaching. Let’s learn all about sanctions vs. embargo in AML in this article. To begin with, sanctions and embargoes are economic tools used in international relations to influence the behavior…
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Jul
Source of Funds vs. Source of Wealth (SoF vs. Sow)
SoF refers to the origin of the funds involved in a transaction, while SoW pertains to the total accumulation of a customer's wealth over time. In the context of SoF vs. SoW, banks, and financial institutions place significant emphasis on…
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Jul
AML False Positives: How To Identify and Reduce Them
Your AML system flags so many transactions as suspicious, only to find out later that they were perfectly legitimate. This phenomenon, known as false positives, can be a real headache. What Are AML False Positives AML false positives occur when…
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