The video might also touch upon the topic of AML (Anti-Money Laundering) KYC, which is a regulatory process aimed at preventing financial crimes.

Do you want to change your job to AML Analyst but are not sure where to begin? This video shares the top 5 skills and the resources to learn them.

About me: I am an Ex Retail banker worked with I bank for 8 years . After which i switched my profile from domestic to International banking in AML and KYC.

This channel is on a mission to bridge the information gap in the education regarding AML and KYC jobs and help to crack top corporate jobs which have no sales or investment targets.

Video Editor – Self





Transaction screening is part of the customer due diligence (CDD) element of a firm’s AML/CFT and fraud risk management for both incoming and outgoing transactions.

Transaction screening verifies the information attached to a transaction to ensure it does not present red flags for financial crime before its committed in system. It reviews transactions as they occur, enabling organizations to respond quickly to suspicious activities and mitigate risks promptly.

Fraud 
Sanctions evasion 
Money laundering 
Terrorist financing
Weapons/Drugs

A Good Transaction Screening program

Be conducted before a transaction is approved.
Detect sanctioned entities, locations and activities.
Rely on sanctions lists refreshed soon after regulators update them.
Be well-integrated into a firm’s holistic risk internal data.
Provide clear risk insights to team to enable effective remediation.
Incorporate both internal and third-party risk insights

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Transaction monitoring is the ongoing process of monitoring transactions for risks after they have been processed both incoming and outgoing.

Financial institutions use specialized software to scan and analyze transaction data, looking for patterns and anomalies that may indicate illegal activities. When unusual transactions are detected, the system raises alerts for further investigation by compliance professionals.

Signs of fraud.
Signs of money laundering or terrorist financing.
Signs of sanctions violations as per regulatory guidelines.
Other unusual activity as per firm’s risk profile.

A good Transaction Monitoring System has :

Review transactions that have already occurred, ideally in real-time.
Detect financial crime risks using rules, artificial intelligence, or as per SOP.
Access other risk data, including transaction screening and previous investigations.
Provide clear data and context to analysts.

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