As a financial institution you are required to set up appropriate processes to monitor your customers’ accounts, activities, and transactions. This helps you to understand their behaviours and actions.
Through transaction monitoring, you can detect if something seems different or unusual in their behaviour or the pattern of their transactions. This is important to help you to comply with your reporting obligations.
We can help you to set up a transaction monitoring system. The level of our support will depend on how you want to perform the monitoring, which system you choose and the integrity of the data.
We can support you in the following areas:
Of course, it is essential to understand the rules and regulations to correctly monitor transactions. But you also need strong analytical skills to make sense of any alert.
Our Wwft Transaction Monitoring e-learning is available online through our training institute, The Ministry of Compliance. It offers you both the knowledge and the practical skills required for successful transaction monitoring.