Exploring Transaction Monitoring Processes: Deficiencies and Learning Points

In this video I’m discussing one of the most important controls used by financial institutions to mitigate the risk of financial crime - the transaction monitoring process. We'll be taking a closer look at what transaction monitoring is and how it is carried out, the deficiencies that can be identified in the TM system, and what we can learn from examples of bad practice. ▬▬ SPECIAL OFFERS ▬▬ 💼 Join my *Patreon* community for exclusive Q&As and behind-the-scenes content: https://www.patreon.com/FCAgent 🎓 Get *20% off* AGRC Certifications with code *FCA20*: https://fincrimeagent.elearning.lgca.uk/ ▬▬ SUBSCRIBE & SUPPORT ▬▬ 🔔 Subscribe to *FinCrime Agent* and hit the bell to get notified: https://bit.ly/2WQxrcT 💬 Drop a comment to share your thoughts or questions 💲 Want to support the channel? Send a *Super Thanks* below the video! ▬▬ CHAPTERS ▬▬ 00:00 - Intro about AML transaction monitoring process 00:36 - What is AML transaction monitoring process 01:22 - How is transaction monitoring done 02:37 - Identifying inefficient AML transaction monitoring processes 04:06 - Lessons learned 04:43 - Recap ✅ References: FCA Financial Crime Guide: https://www.handbook.fca.org.uk/handbook/FCG.pdf FCA publication, Financial crime controls at challenger banks: https://www.fca.org.uk/publications/multi-firm-reviews/financial-crime-controls-at-challenger-banks#lf-chapter-id-key-findings ▬▬ CONNECT ▬▬ 🌐 All my links in one place → https://linktr.ee/fincrimeagent ▬▬ DISCLAIMER ▬▬ This video is intended for general informational or entertainment purposes only. The information in this video is not intended to replace legal advice. The views and opinions expressed in this video are those of the speaker/s and do not necessarily reflect the original policy or position of people, institutions or organizations that the speaker/s may or may not be associated with in professional or personal capacity, unless explicitly stated. Furthermore, no endorsement of any criminal activity is expressed or implied. PARTNERSHIPS & AFFILIATIONS For transparency, the video you just watched is NOT sponsored. Some of the links included in this space are affiliate links and I could earn a small commission if you make a purchase. This will be at no extra cost to you and will allow me to continue making more videos like this one. © Marco Beranzoni - All rights reserved No part of this video presentation may be reproduced, stored in a retrieval system or transmitted in any form or by any means, mechanical, electronic, photocopying, recording or otherwise without the prior written permission of the owner. #AML