Monitoring vs Single Check
AML monitoring performs a single check on an individual daily. The subject is scanned through various databases every 24 hours. This includes PEP, Sanctions, and Adverse Media screening.
Creating AML Monitoring
This performs a single search for AML Records every day.
- Open your dashboard, open AML Verifications, and select AML Monitoring
- In the top right corner, press Start Monitoring
:identification_card: Pop-up window
- Type
- Person - performs an AML Check for a person
- Company - performs an AML Check for a registered business
- Verification data
- Verification - Data necessary for verification is taken from previously performed KYC verification and will be associated with the KYC verification results
- Data - Add user data to create monitoring
- Additional checkbox
- By default, Monitoring will always create PEPs & Sanctions checks, but you can turn on Adverse media
- The default monitoring period is 365 days; you can renew this by subscribing to an extension. Each yearly extension will cost a credit.
Adverse media monitoring only works in conjunction with an AML check and cannot be used standalone.
Filtering
:identification_card: Client data, statuses
In the top right corner, select Add filter
A sidebar will open, with all the selectable options
Time & Date
You can use pre-made periods, or a specific time period, or use Search all records to filter all your database.
Additionally, you can sort by age
Client identifiers
Click on the current identifier and select the identifier you want to use:
- First and/or Last name
- Company name
- Monitoring ID - On creation of monitoring, an ID will be assigned to the subject, which can be used to find and identify specific monitoring.
Monitoring findings
Results
Monitoring results are identical to a single check, so for more information, see AML Results
Statuses
| Accepted | The subject is successfully monitored and has no findings. |
|---|
| Declined | If the status is denied, the subject is no longer monitored. However, if the subject had some findings and the manager decided that those findings were true, the subject could be denied. |
| Alert | The monitoring subject has some findings that have not been reviewed by the manager. Therefore, if the subject is alerted, the ongoing monitoring is still working. However, when the alert status is displayed, managers can deny or accept that subject so the status will be changed to denied or accepted accordingly. |
| Pending | Once the subject is added to the AML monitoring list, the status pending is displayed until the first check. Therefore, usually, it takes up to 1 minute. |
Every finding (hit) has the details same as in AML checks information. The details depend on whether it’s a partner or company and whether the Adverse media is also monitored.
Furthermore, if the previous findings were accepted, the same findings(hits) will not be highlighted on further checks (whitelabelled).
- Status - managers are allowed to select whether a certain finding(hit) is a True positive or a False positive.
