Good transaction monitoring proactively safeguards organizations from being targeted by criminals and helps maintain compliance required by regulatory bodies. Legacy systems lack scalability and often overlook suspicious activities. So often, compliance alert systems based on standard regulatory technology trigger thousands of false positives every day, exceeding 90%. Transaction monitoring is a critical part of AML and needs to be robust to respond effectively to the illegal laundering of funds.
With the volume of fraud and money-laundering growing every year, the task of managing risk and regulatory compliance is an increasingly tall order. This guide shares best practices on optimizing transaction monitoring for efficient detection.