Transaction screening is a process that evaluates each transaction against a set of predefined criteria to identify potentially suspicious or prohibited activities. This involves cross-checking transactions for:

  • Sanctioned Entities: Identifying transactions involving entities on sanction lists.
  • High-Risk Countries: Screening transactions associated with countries flagged as high-risk.
  • Suspicious Keywords: Detecting keywords that may indicate fraudulent or suspicious behavior.

Transaction screening helps organizations maintain regulatory compliance, detect financial crime, and prevent transactions associated with illicit activity.

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Key Features

  • Real-Time Screening: Transactions are analyzed immediately upon initiation, allowing for prompt detection of flagged transactions.
  • Customizable Criteria: Tailor screening criteria based on business requirements, risk tolerance, and regulatory standards.
  • Alerts and Notifications: Generate alerts for transactions that trigger one or more criteria, ensuring swift review and necessary action.