AML Analytics and Surveillance services - transaction monitoring

AML Transaction Monitoring

Effective AML transaction monitoring – reviewing alerts generated and analysing them against historical transactions and KYC profiles to report unusual customer behaviour and suspicious money movements

Anti Money Laundering (AML) transaction monitoring Services

Transaction monitoring (TM) refers to monitoring customer transactions, including assessing historical/current customer information and interactions, to provide a complete picture of customer activity. The key challenge for FIs is ensuring quality, accuracy and consistency when handling alerts generated by TM systems. Our team of analytical investigators have helped clients implement effective TM systems across the board. Our process is as follows:

i. Level 1 alerts:The first stage of AML Transaction Monitoring entails Identifying and validating an alert, and checking whether the alert can be discounted or confirming the alert is “true” and requires a thorough investigation..

ii. Level 2 alerts: Reviewing and validating alerts sent by the Level 1 team. Based on the alert, Level 2 investigators create a case to determine the nature of the alert activity (such as anomalous activity or high-risk transfer) and ascertain whether to report the activity to MLROs for SAR/STR filing or close the alert. Activities at this level will include a holistic investigation of the customer, transaction activity and other associated entities which forms the second stage of AML Monitoring.

iii. Level 3 alerts: Reviewing the cases from Level 2 investigators and validating their findings. After ensuring the cases are accurate and compliant, supporting with compiling SARs/STRs.

How we are different

SCALABILITY
SCALABILITY
Scalable and flexible operating models customised to suit client requirements of meeting bespoke AML transaction monitoring solutions
TECHNOLOGY
TECHNOLOGY
Hands-on experience with key vendor tools such as Actimize, Mantas and Norkom, a robust understanding of advanced AML monitoring systems
NEARSHORE CAPABILITIES
NEARSHORE CAPABILITIES
Global footprint with multi-language support spanning time zones
PROCESS OPTIMISATION
PROCESS OPTIMISATION
Staggered rollout plan to ensure a smooth transition and minimal service disruption
STRONGER SERVICE QUALITY LEVELS
STRONGER SERVICE QUALITY LEVELS
Customised delivery solutions leveraging tried and tested methods

What we have done

Support for Consulting and Corporate Firms
AML Transaction Monitoring for a Global Bank
What we are proud of

35-40%

reducation in false positives

100%

timelines achieved

Support for Consulting and Corporate Firms
Actimize Trade Surveillance Support for US-based Bank
What we are proud of

25%

reduction in turnaround time

60%

cost savings

In the News

Compliance Podcast Network
“Innovation in compliance with Tom Fox- Knowledge process outsourcing with Jehan Jeyaretnam”
Read More
Kyckr
“The Future of KYC Compliance — Insights from Jehan Jeyaretnam”
Read More
Compliance Week
“Done right, outsourcing compliance can be rewarding”
Read More

Meet our experts

Jalaj Jonker

Assistant Director, Compliance Analytics

Jalaj heads the Compliance Analytics team, with experience in anti-money laundering, customer due diligence, and market abuse prevention. He has worked in the areas of compliance, trading surveillance, and financial crime and information security and risk analytics. He holds a Bachelor of Engineering (Hons.) degree in Electronics and Communication.

Jalaj Jonker
Jehan Jeyaretnam

Director, Head of Compliance Services

Jehan is global head of Compliance Services, serving buy- and sell-side clients. He was previously the head of global projects and transitions — equity, and led all inbound scoping requests and delivery solutions for buy- and sell-side clients. Jehan managed the setup and transition of several large engagements, including lift-and-shift of processes for clients across multiple work streams. He has over 17 years of experience in investment research and analysis, compliance, project management, audit control and systems implementation. He has led large projects and teams across multiple work streams and global locations and is a Certified Investment Advisor (Colombo Stock Exchange)

Jehan Jeyaretnam
Puneet Prakash

Director, Product Head, Compliance Support

Puneet Prakash is the product head of the firm’s Compliance Services business unit. He is responsible for strategizing and creating optimal solutions for the firm’s Compliance clientele, globally. He has over 15 years of experience in financial services and knowledge offshoring. He has previously worked with firms such as TCS and WNS. Puneet holds an MBA (Finance & Marketing) from the Indian Institute of Management, Kozhikode and a Bachelor of Technology from the Indian Institute of Technology, India

Puneet Prakash
Chetan Majithia

Head, North America, Business Development for Private Markets, Investment Banking and Consulting; Co-Head - Commercial Banking and Corporates

Chetan has over 20 years of experience across the financial services sector’s markets, geographies and asset classes. At Acuity Knowledge Partners (Acuity), he spearheads Business Development for multiple strategic business units (IB, Private Markets, Consulting, Corporates, and Banking). During his almost seven years journey at Acuity, Chetan has been responsible for partnering with clients in these segments to transform and build business efficiencies through tailor-made and proprietary solutions, enabling them to save millions of dollars.

Prior to Acuity, Chetan was on the Board of Directors at CRISIL US, an S&P company, and Director and Head of Financial Research, Business Development, Americas. In his 13+ years 'journey at CRISIL, Chetan managed multiple roles, including setting up and leading the Equities practice in Indian markets, wherein he successfully launched India’s first independent equity research service provider, and setting up and heading CRISIL’s first international offshore operations in Argentina. Prior to CRISIL, Chetan worked with ING Bank and Citibank in multiple roles. He has featured consistently in media including on CNBC-TV18 and Bloomberg, and his views on Indian stock markets are covered widely by all leading financial publications.

Chetan is a Fellow Chartered Accountant (the equivalent of a CPA) with the Institute of Chartered Accountants of India and holds an MBA in Finance from NMIMS, India. He is also a Company Secretary (with a degree in Corporate Law) with the Institute of Company Secretaries of India. He passed CFA Level 2 examinations.

Chetan Majithia
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