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Transaction Monitoring - Coggle Diagram
Transaction Monitoring
is monitoring customer transactions, including assessing historical and current customer information and interactions, to provide a complete picture of customer activity.
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Suspicious Transaction/Matter Report. this report is legal and obligatory to be provided to legal enforcement.
TMS is automated transaction monitoring. TMS is a combo of key functionalities required to effectively detect, and operationalise the investigation of suspicious activity.
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TMS Functionality
DATA
customer data: name, address, DOB, country, KYC
transaction data: date, timestamp, trxn type, trxn description, v+nv indicator, trxn amount.
account data: product name, product description, type of product, account number+balance
reference data: channel details, payment types, nv trxn types
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alert management
alert logic
the more alerts generated from the activities of a customer at a point in time, the higher the probability that that customer is engaged in fin crime.
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creating alert logic
super scenarios: super scenarios combine scenarios, so that when the super scenario is infracted (alert generated), this is given a higher alert score and prioritized as a higher triage. Super scenarios > are combination of scenarios that when infracted, should be prioritized as important for rapid triage.
alert scoring: score is allocated to alerts based on the probability that an alert is ML, TF or Fraud. e.g. range 0-100. 90 is high score.
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Transaction Monitoring Scenarios -> interpretation of these typologies into a set of profiles, rules and thresholds that a transaction monitoring system (TMS) can use.
Typologies -> represent specific behaviors and activities that individuals, organizations and even governments may perform that are indicative of unusual activity.
used
education & awareness (e.g. customer support, bank employees).
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