Transaction Monitoring Rules Assessment

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TM Rules Assessment

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AML Compliance Services
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TM Rules Assessment

Transaction Monitoring Rules assessment

Regulators want to know that transaction monitoring rules have been tailored to a firm’s risk. Out-of-the-box rules are unlikely to be fit for purpose.

All transaction monitoring (TM) systems are based around a set of rules that are designed to identify suspicious activity that you might need to report to the authorities. How do you know if the rules in your system do their job properly & protect your organisation from being used as a tool for illicit money laundering?

SQA Consulting are experts in using, implementing & assurance transaction monitoring systems & we can assess your TM rules to help you understand if they are fit for purpose. Our TM Rules Review covers three main areas:

TM Rule Design

How has the firm has selected, designed, tuned & testing their transaction monitoring rules?
We assess whether the approach is consistent with good practice.

TM Risk Rule Coverage

Are the firm’s financial crime risks covered by their TM rules?
We perform a gap analysis between the firm’s risks & their TM rules & produce a heat map showing where risks may not be mitigated.

TM Rule Effectiveness

How does the firm assess whether their rules are effective?
We provide a view of whether the firm’s approach is likely to produce effective monitoring of AML risks.

To find out how we can help you improve the effectiveness of your TM rules, get in touch via aml-prevention.services@sqa-consulting.com

Regulators consider obtaining independent assurance of your TM rules as an indicator of a mature approach.

AML COMPLIANCE
PRODUCTS & SERVICES

ELIMINATOR

AUTOMATED
ALERT PROCESSING

CONSULTING
PRACTICE

COUNTRY
RISK INDEX

CTRP

DATA
PROFILER

DATA
QUALITY

ETHNIC NAME
ORIGIN IDENTIFIER

MANUAL
ALERT PROCESSING

RED FLAG
LIST

REGULATORY
ASSURANCE

SCREENING
ASSESSMENT CENTRE

SCREENING
ASSESSMENT

SYSTEM SELECTION
& TUNING

TM
ASSURANCE

TM RULES
ASSESSMENT

AML COMPLIANCE TESTIMONIALS

"We are delighted with the specialised and professional services Jeremy Round and team provided – the input has been invaluable. We will definitely recommend SQA Consulting and request ongoing engagements with you."

"Thank you very much, your customer and transaction screening report has been very useful for us. Your findings helped us to identify multiple of development items, and we really appreciated your in-depth support throughout the process!"

"SQA Consulting are involved in every decision we make regarding sanctions and PEPs, we couldn't perform with you them"

"Their true area of excellence lies in managing risk pragmatically with operational excellence"

"There is no one more qualified to take us through the intricacies and complexities of screening"

"SQA's vast experience in the sanctions screening environment has resulted in their software being used all over the world "

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Transaction Monitoring Rules Assessment