AML/CFT Transaction Monitoring: Alert-Based Monitoring vs Case-Based Monitoring

Terence Ho, CAMS-FCI

Over the years, U.S. regulatory agencies such as the Financial Crimes Enforcement Network (FinCEN), the Office of the Comptroller of the Currency (OCC) and the New York State Department of Financial Services (NYDFS) have been actively issuing consent orders against financial institutions that have failed in their responsibility to identify, detect, and report suspicious transactions.

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