List of AML CTF Transaction Monitoring Systems
Banks and other Financial Institutions have a statutory obligation to take measures to counter money laundering and terrorist financing. One of those measures is ongoing post event transaction monitoring. The Dutch Regulator of Banks and Payment Institutions states;
“Banks must pay particular attention to unusual transaction patterns and transactions of customers that due to their nature typically carry a higher risk of money laundering or terrorist financing. If there are grounds to assume that a (proposed) transaction is linked to money laundering or terrorist financing, banks must report this transaction to the FIU-NL without delay. To be able to do this it is crucial that banks have in place an effective transaction monitoring process.” *1
The Regulator furthermore states;
“If there are large numbers of transactions then it is appropriate to have an automated transaction monitoring system in place to be able to safeguard the effectiveness, consistency and processing time of the monitoring.”De Nederlandsche Bank N.V. (DNB)*2
In the overview below you will find a list of providers of ‘automated transaction monitoring systems’ or solutions. The list covers solutions for both Banks and other Financial Institutions.
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*1 DNB, ‘Post-event transaction monitoring process for banks‘, Guidance, Amsterdam, 30 August 2017, p. 7.
*2 See footnote 1, p. 13.