Transaction monitoring

The Financial Services Commission continues to focus on market integrity. Firms are expected to implement risk-based transaction monitoring systems, regardless of volume, to ensure they align with customer profile and anticipated risk levels.

An effective transaction monitoring approach involves continuous analysis of activity including deposits, withdrawals, and transfers - identifying patterns that may indicate money laundering, terrorist financing or market abuse.

The MLRO is typically accountable for:

• The review and assessment of internal disclosures
• Ensuring all related records are accurately maintained.
• Ensuring confidentiality during investigations
• Liaising with the regulator and other authorities when required
• Timely and effective management reporting

Our transaction monitoring services

We offer a suite of tailored transaction monitoring services, tailored to your specific needs, including:

Ongoing transaction monitoring
Regular reviews of transactions to detect and report suspicious activities, ensuring adherence to AML/CFT regulations.

FIU registration
Assistance with registering your entity with the Financial Intelligence Unit (FIU) to facilitate mandatory reporting.

AML/CFT screening
Regular screening against updated sanction lists to identify and manage potential risks.

STR management
Maintenance of a comprehensive register of internal and external Suspicious Transaction Reports (STRs) and timely reporting to the FIU and relevant authorities.

MLRO reporting
Preparation and submission of an annual Money Laundering Reporting Officer (MLRO) report to the board of directors, with detailed compliance activities and findings.