monitoring process

Transaction Monitoring System – Protecting Firms from Financial Fraud

Transaction Monitoring System – Protecting Firms from Financial Fraud

The transaction monitoring system serves as the foundation of the AML compliance system that helps businesses fight fraud in the digital era. Sadly, financial institutions have evolved into a conduit for money launderers' scheme of smuggling illicit earnings. The total digitization of banking has given scammers a wealth of opportunities. In addition to banks, the emergence of cryptocurrencies has led to an increase in the scope and volume of financial crimes that is breaking all previous records. The automated transaction monitoring process keeps track of customers' transactional activities and quickly provides enough information to help financial firms maintain their good…
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