AML Protection with Next Generation Transaction Monitoring
September 23, 2022
Sanction Scanner monitors transactions of your customer in real-time to detect suspicious activities.LONDON, THE UK, September 23, 2022 /EINPresswire.com/ -- While the world is growing at an acceleration that cannot be compared with the past, developments that fundamentally affect our lives are experienced in the field of financial technology. While there has been a significant increase in financial crimes, especially on the money laundering side, it has become very difficult for companies to survive with old, manual, and operational methods. At this very point, Sanction Scanner has implemented the Real-Time Customer Transaction Monitoring product, making it easier for companies to offer machine learning-supported software that allows companies to instantly monitor customers' transactions and determine other actions accordingly.
Software that Simplifies the AML Compliance Process
With the regulations determined by local and international authorities, there are defined responsibilities to prevent crimes that may be committed in the direction of money laundering and financing of terrorism. However, these institutions may have difficulties in the process due to variable data sets and adaptation to them requires a specialty. As a result, these companies might suffer sanctions and loss of both financial and professional reputations.
Sanction Scanner aims to facilitate the implementation and inspection of the necessary rules by providing solutions for the relevant processes to the companies operating in this field. Customer Transaction Monitoring, which is one of these products, enables many companies that perform financial transactions or brokerage to be prepared against increasing risks with minimum effort.
Sanction Scanner AML Transaction Monitoring is a versatile software developed with machine learning support. The product instantly detects anomalies by following the transactions carried out by companies’ customers. When a risky transaction is found, it sends a notification to its users by stopping the transaction or blocking the customer. Thus, it gives the opportunity to intervene against illegal transactions that may occur with the simultaneous control mechanism.
Sanction Scanner Solutions Against Financial Crimes
Considering that every company's processes are different, it is also difficult to follow a single path to set critical rules. In addition, many companies get lost in complex systems and hundreds of scenarios. On the other hand, Sanction Scanner offers a simulation tool where you can try different rules on historical data. Ideal rule sets can be created by optimizing scenarios according to the results. The fact that these screens are presented with a user-friendly interface makes it easier to use the product without the need for software knowledge. Users can create their rules with drag and drop methods prepared with no-code.