A Guide to Anti-Money Laundering for Crypto Firms

Next-Gen AML

AML & Fraud Transaction Monitoring

Reduce engineering dependence & give your compliance team a competitive advantage with a real-time, data-agnostic rules engine

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Transaction Monitoring and Screening

Screen all elements of a transaction in real-time and automate at scale

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Build a seamless experience with ComplyAdvantage

  • Uncover hidden risks using a powerful risk engine that combines pre-configured rules with machine learning algorithms
  • Determine risk scores that are relevant to your business
  • Gain insights through external data sources, such as high-risk locations, geolocation and watchlists
  • Get a consolidated, single entity view, putting the right information at your fingertips for more efficient investigations
  • Deploy hundreds of risk rules tailored to your specific industry risk vectors, Import and test custom rules and improve detection accuracy in no time

  • Use expert-built rules, customize them to your thresholds, or build your own from scratch.
  • Define and build rules easily with an intuitive interface that requires no coding.
  • Try and test new rules safely and easily  before going live.
  • Drive down false positives by tailoring your scenarios quickly in response to new business risks
  • Segment customers based on your risk appetite and apply different thresholds and rules for different client segments.

  • Use APIs to securely send us your transactions, customers, accounts, payment methods and all other relevant data.
  • Easily integrated into existing systems to send data either in real time via our REST API or with batch file upload.
  • Identify suspicious trends with data aggregation algorithms that detect patterns overtime.

  • Reduce your team’s operational overheads by prioritising suspicious activity alerts
  • Optimized layout to allow teams to investigate quickly by accessing information for faster decision making
  • Efficiently investigate alerts and cases, drill down on related entities, add notes and attachments — all with a comprehensive audit trail
  • Empower investigators to focus on the highest priority, SAR-worthy alerts

  • Ease the burden of regulatory filings such as Suspicious Activity Reports (SARs) with streamlined flows that pre-populate forms with relevant data and electronically submit to regulators.
  • Meet regulatory obligations with an audit trail of all system and user actions with date and time stamps.
  • Obtain valuable insights from our advanced dashboards on performance of your pre-configured rules and your analyst team, and obtain information for executive reporting.

Our proven value to customers

False positive

Work with AML experts with experience deploying transaction monitoring for 1000+ companies

80% reduction in time to build risk scenarios with our no-code rule builder

Monitor billions of transactions at 100 TPS with sub second response time

Enhance your compliance workflow

Key features

AML Transaction Monitoring

  • Out-of-the-box Rules Library
  • Soft-Coded Rules Engine
  • Customization for different risk levels

Transaction Screening

  • Real-time sender, beneficiary & payment reference screening
  • Sanctions database
  • Name-matching algorithms
  • Fuzzy matching

Case management

  • Workflow (alert view, entity view, transaction view)
  • Exclusion list management (e.g. countries)

Reporting

  • Dashboard
  • Audit trail

Integrations

  • REST API
  • Webhooks
  • SOC2 & ISO27001 – level security
  • AWS hosting

Powering compliance for over 2,000 customers in 75+ countries

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Case Study: Hampshire Trust Bank (HTB)

HTB was looking for a transaction monitoring and screening solution that would meet the needs of its growing customer base while safeguarding the bank’s reputation.

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Frequently Asked Questions

The ComplyAdvantage API enables you to integrate your systems with our services to automate many of the functions available through the web user interface. Our API follows the REST convention and accepts and returns JSON data. View our API docs.

The transaction monitoring solution uses an advanced rules-based system to evaluate the AML/CTF risk of a transaction in real-time. These rules include:

– Simple rules: Rules that perform a check on the data within a transaction

– Aggregate Rules: Rules that track activity over multiple transactions (e.g. velocity rules)

– Behavioral Rules: Rules that compare with past activity (e.g. average transaction amount)

– Risk Pattern Rules: Rules that cross reference activity against a known AML/CTF risk pattern

These rules are created and deployed during the implementation of your solution as this allows <<Customer>> to concentrate on the areas that will benefit your business the most (i.e. resolution of cases)

It is possible to select and export transaction data as a CSV file to be used outside of the ComplyAdvantage platform as needed. This contains all input data as well as additional output such as rule and alert information from the system.

Rules are completely customizable. Our transaction monitoring system can run on any data that you provide to us (data that is captured within a transaction). This not only allows the engine to detect suspicious scenarios specific to bankers banks,  but also allows the tool to speak in your language, using your own variables, codes, definitions, etc. that are unique to you.

The ComplyAdvantage transaction monitoring solution is a rules-based, data-agnostic tool that can detect the types of suspicious behaviors/scenarios that the customer defines. Generally speaking, regulators have not “signed-off” on AI and machine learning for ML/TF risk detection when it comes to transaction monitoring systems.

Having said that, ComplyAdvantage is anticipating this acceptance in the future and is, therefore, preparing the tools for this change to the regulatory landscape.

Explore our other solutions to fight financial crime

Customer Screening and Monitoring

Optimize the efficiency of AML/KYC screening, reduce friction and automate your onboarding and monitoring.

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Know Your Business

Understand the risk of companies, associated directors and shareholders via a single API.

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ComplyTry

Our Free tool to verify customers with live sanctions, PEPs, and adverse media.

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ComplyLaunch

Our tools and resources designed for early-stage startups.

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Get started with ComplyAdvantage today

See how over 2000+ high growth fintechs have made AML risk & compliance painless