At SQA Consulting, our team is battle-scarred from implementing, operating & reviewing transaction monitoring (TM) systems & frameworks.
Effective TM is essential to be able to know if your customers are using your services, systems or products for illicit activity. Our team can help firms understand the strengths & weaknesses of their TM systems & the wider processes & controls that should work together to provide a robust control environment.
We use our TM Maturity Model to check how a firm’s TM framework measures up to the benchmarks that a regulator might expect. This includes:
TM rules are at the heart of any automated TM system. How can a firm know if their TM rules will protect them & identify suspicious activity? We can produce a heat map showing how a firm’s set of rules measure up to the firm’s financial crime risks.
This will identify risks which aren’t addressed by the rules & rules that don’t address any of the rules. A firm can use this analysis to strengthen the TM rules & reduce irrelevant alerts.
Find out how we can help you with transaction monitoring by getting get in touch at firstname.lastname@example.org
Do your TM rules and controls mitigate your AML risk?