AML Transaction Monitoring
Never let a suspicious transaction slip past
Transaction fraud is on the rise, with total losses expected to exceed $48 billion in 2023. Deter financial fraud and maintain compliance with a powerful transaction monitoring tool designed for compliance and risk teams.
Use one tool to manage the whole process, with less false positives and easier case management
Detect signs of fraud in real-time. Data-driven approaches help you prevent money losses
Connect KYC, AML, and KYB verification with transaction monitoring to detect and report any suspicious activity
Get one solution that alerts
you to all red flags
Get a complete picture of your customers’ risk profiles. Sumsub allows you to track the whole user journey, from the moment they sign up till transaction completion. This helps you make informed decisions and keep your business safe
Onboarding Orchestration
Sign Up
- Email Risk Assessment
- Phone Risk Assessment
- Device Intelligence
User
Verification
- ID Verification
- Liveness and Face match
- Address Verification
- Live Agent Video Call
- Doc-free Verification
- Public Digital Identity Systems
- QES/eIDAS
- NFC
- Known Face Search
- Blocklist Check
- Duplicate Check
AML
Screening
- PEP + Sanctions
- Adverse Media
Ongoing Monitoring
Login
- Device Intelligence
- Behavioral Fraud Detection
- Face Authentication
- MFA
Fraud
Monitoring
- Device Intelligence
- Behavioral Fraud Detection
- Face Authentication
- Ongoing AML Monitoring
Transactions
- AML Transaction Monitoring
- Bank Account Verification
- Travel Rule
- Fraud Transaction Monitoring
- Behavioral Fraud Detection
Works where
you work
Meet regulatory requirements and stop all types of fraud, including payment/chargeback fraud. Monitor suspicious activity with a risk-scoring approach and easily report when it’s detected
Ensure AML compliance to stop all fraud, including bank card theft. Use transaction monitoring to run bank card risk scoring for credit requests and thresholds checking
Prevent promo and deposit abuse, as well as unfair chargebacks. Detect specific fraud patterns including multi-accounting, arbitrage betting, and affiliate fraud
Stop payment fraud, including illegal chargebacks and credit card fraud. Also, your users are securely protected from account takeovers
Let the numbers do the talking: get 240% ROI
Сompanies that work with Sumsub identity verification software save costs and increase revenue, according to the “Total Economic Impact™ Of Sumsub’s Verification Platform study by Forrester Consulting. Let’s see what results you can get
240%
ROI
3.21M
NPV
4.55M
Benefits PV
< 6
months payback
Sumsub provides pre-set rules for a wide range of scenarios, from responsible gambling to bank security. You can also create custom rules based on your own data sources, no coding required, and test them in dry-run mode using both historical and live data before implementation
Sumsub’s AI actively uses pattern analysis that goes far beyond the industry-standard screening parameters. This uncovers even the most well-hidden money laundering schemes and criminal groups
One flow for checks means easier case management, more collaboration between departments, plus transparent KPIs and reporting. All this helps maximize case processing speed, giving you more time to focus on the things that really matter
Integrate via API with expert assistance
Sumsub’s solution architects will customize the rules for you based on your requirements. If you prefer to adapt things on your own, enjoy our no-code visual interface and 24/7 support
Don’t take our word for it.
Analyst and Head of Security, Anytime
It’s essential for us to not only have the ability to control the whole onboarding process but also to understand its efficiency via indicators. With Sumsub you can analyze data from any angle. The analytics settings are very flexible. As a result, we have managed to reduce the average verification time by 100% and cut costs by 50%.
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FAQ
- What is the transaction monitoring system for AML?
Anti-money laundering (AML) transaction monitoring systems detect and report suspicious activity patterns on users' accounts. These actions may include flagging an unusually large transaction or number of deposits or withdrawals in a short period. Specific reporting methods, such as suspicious activity reports (SAR), are also made available, which help financial institutions comply with AML regulations.
- What systems are used for transaction monitoring?
A wide variety of systems available for transaction monitoring are used to help financial institutions automatically detect suspicious transactions and comply with anti-fraud and Anti-Money Laundering (AML) regulations. The best systems are tailored to specific risk profiles, allow easy customization, and cover the entire user journey from onboarding to ongoing monitoring.
- What is the suspicious activity monitoring process?
The suspicious activity monitoring process identifies possible illegal transactions or fraud. This is done both automatically and manually by inspecting individual cases and fraud signals, and establishing connections that could indicate fraudulent activity. Risk-based transaction monitoring rules help the business modify its anti-money laundering and anti-fraud response to reflect its overall risk appetite.
- What is transaction monitoring in KYC?
Transaction monitoring in KYC allows the detection of signs of suspicious user activity, such as money laundering, terrorist financing, fraud, identity theft, and more. Businesses must ensure that user transactions are consistent with their knowledge of the customer received during the Know Your Customer (KYC) procedure and throughout their entire user journey, since 70% of fraud happens after user onboarding.
- What is payment and credit card transaction monitoring?
Payment and credit card transaction monitoring is the automated process of monitoring a client's financial activities, such as deposits, withdrawals, and transfers. The system proactively seeks to identify suspicious behavior that may indicate money laundering or other illicit financial activities.
- What is website and application transaction monitoring?
Web and application transaction monitoring records and monitors the specific sequence of web pages of an online application, such as an online shopping cart or a banking transaction. This type of transaction monitoring is used to check that user interactions, such as logins and purchasing actions, are functioning correctly on a website.