Challenge
Our partner needed immediate support, including customer due diligence and transaction monitoring reviews, to determine suspicious activity and prevent financial crime from occurring within their platform’s payment function. With an average run rate of 30,000 transaction monitoring reviews annually, the global technology giant needed a trusted compliance partner to support and enhance their compliance operations.
Global Managed Services Approach
AML RightSource deployed a specialized team of managed services professionals to address our partner’s due diligence, fraud transaction monitoring review, ID verification review, and controls/testing support needs. Throughout the engagement, we have partnered closely with their internal teams to unlock additional efficiencies in their financial crime compliance and onboarding processes and deliver industry-leading quality service.
Value Delivered
Our work resulted in the organization’s ability to formally address, escalate, and close an average of 30,000 transaction monitoring reviews annually. Through our review of their transactional activity, internal records, and external research, we were able to provide further value in the form of research and validation of user information and suspicious account activity, identify transactions indicative of fraudulent activity, and help fortify the technology organization’s money laundering controls and thresholds to account for their customer population’s needs.
AML RightSource’s ongoing partnership with the technology organization has yielded significant results:
Our team successfully addressed the client’s TM volume (30k annually), resulting in a healthier regulatory compliance posture while also supporting user onboarding and verification and helping streamline their suspicious activity identification protocols.
We effectively managed and streamlined our partner’s internal processes and directly supported the continued build of their AML and Fraud program.
Over the last 4+ years, we have continued to enhance operational efficiencies and uphold global standards of excellence throughout the client’s compliance program, with approximately 150 FTE.
