Tag: monitoring

In order to prevent illegal acts such as money laundering or other financial crimes, banks must know their customer’s transactions by implementing a transaction monitoring system. This will not only help in the detection of suspicious activities but also in establishing the integrity of the financial sector. What is Transaction Monitoring in Banks? Bank transaction monitoring is a process of monitoring the financial transactions of their users for signs of money laundering, terrorism financing, and other financial crimes. Banks must … Continue reading “Bank Transaction Monitoring: Safeguarding the Financial Ecosystem”