Trapets AB

For a regular account holder, selling a car can result in an unusually large deposit. This transaction can be interpreted as deviating from the usual pattern, leading to a false positive. 🚩

Here are three tips for reducing the number of false positives while maintaining customer trust:

📄 Fold more data into your KYC process: like credit scores, asset ownership, and insurance details, to accurately assess transactions; this is a task that smaller banks must prioritise to maintain reliable security and customer trust.

🤖 Automate data analysis: technology, such as software robots, can interact with different sources and extract relevant data to generate a report to analyse, reducing the chances of leaving valuable information out.

⚙️ Be open to re-scoping: you need to adopt a risk-based approach in scoping your transaction monitoring system - that means judging whether a scope is valuable or not based on its real outcomes.

Interested in learning more about flagging false positives? Read more here: https://buff.ly/X2XiZAX

Fancy a cuppa while discussing compliance? ☕ Well then, join us in London at the ICA Future of FinCrime & Compliance Summit 2025 on 8 May 2025.

Join our panel, where we will address AML challenges for 2025 and how to overcome them through technology and collaboration.

Register now and get 10% off your tickets by using the code TR10 👉 https://buff.ly/BTHFWBO

We hope to see you there! 💂

Some warning signs can be easily recognised when identifying high-risk customers, while others may require closer examination.

Here are 4 red flags you should be on the lookout for in high-risk customers.

Find out more warning signs on our website: https://bit.ly/4bVYx7z

The fight against financial crime in market and trade surveillance is never-ending. This means that there are always questions regarding new methods, examples, and best practices.

We've asked Per Friberg, Senior Financial Crime Surveillance Officer, some common questions we often encounter within market and trade surveillance. Read the full article here: https://bit.ly/3DRHYwO