Transaction monitoring
Never let a suspicious transaction slip past
Protect your business from financial losses by detecting fraudulent transaction activity with the most flexible risk management solution around.
Don’t lose money on undetected money laundering and fraud. Detect all red flags in real time.
Reduce false positives without compromising on compliance. Honest users in, money launderers out.
Combine KYC/AML verification with transaction monitoring to help you detect and report suspicious activities.
How it works
Transaction data transferring
Send any data on transactions, payment methods and customers to Sumsub via secure API.
Transaction
monitoringSumsub monitors every transaction and detect suspicious activities according to your custom rules.
Case management
Review alerts and make smarter decisions based on data, dive deep into transactions and customers details. All in a single dashboard.
Detect any suspicious activity
with an easy-to-use KYT solution
Define your risk strategy
Leverage one of 300+ ready-to-use risk scenarios and configure them to your own thresholds—or create custom rules from scratch using our visual interface.
Detect suspicious activities
Our system detects and blocks any red flags you set for the customer’s online banking account or payment card in real time.
Investigate and manage cases
Get to the bottom of suspicious activity, calculate risk scores for every customer, dive deep into user profiles and analyze fraud patterns—all in a single dashboard. Make better final decisions by escalating corner cases to your compliance officers.
Report suspicious activities
Get a PDF report to inform your regulator about risky activities indicative of money laundering, tax evasion, fraud, and other financial crimes.
Manage your entire customer lifecycle
from a single platform
From onboarding to transaction monitoring, Sumsub’s Compliance Cockpit covers every step of the customer journey. Make smarter decisions based on a client risk score, combining profile data with transaction data.
Build your own processes, manage and investigate cases, and analyze customer data to truly see the big picture.
Easily integrate your tech stack with Sumsub
Connect Sumsub’s transaction monitoring via secure API. Don’t worry about interruptions with 99.996% uptime.
Personalized customer service
24/7 support for integration, maintenance, and any other issues
Professional advice on building compliant user verification flows
Your own manager at Sumsub, tasked with helping you achieve your business goals and metrics
Don’t take our word for it.
Here’s what our clients have to say
Nicehash
We started using Sumsub at the beginning of 2020. Since then we’ve checked approximately half a million users. They’ve helped us a lot with their highly sophisticated KYC/AML solutions. At the beginning of our collaboration, we mainly used Sumsub to manage security risks for our platform and its users, but we added more services and solutions as we grew to effectively manage AML risks and verify users.
Begin your journey with Sumsub today
FAQ
- What is digital transaction monitoring?
It’s a way to stay compliant with regulatory requirements, detect suspicious activity and prevent risky actions. This tool helps to identify any unusual or unexpected transactions that may give rise to suspicion of money laundering or terrorist financing by establishing the destination of funds and/or ascertaining the reason for certain transactions.
- Why is transaction monitoring important?
Both regulations and industry best practices underscore the importance of transaction monitoring. Businesses need to be able to access information about complex or suspicious transactions and the related sources of funds. So when customers somehow contradict the information that they gave about themselves, the firm needs to be able to protect themselves from becoming platforms for money laundering and other financial crimes.
- Is transaction monitoring required for AML?
Yes! You need AMLtransaction monitoring software if your business falls under anti-money laundering regulations. This type of screening helps detect and prevent any financial crime profits entering your systems.
- What is a transaction monitoring system?
It’s a financial transaction monitoring tool that helps to detect suspicious activity with an easy-to-use KYT solution. There are different automated transaction monitoring systems available on the market. They can use a variety of techniques to detect and report suspicious actions. The systems available are not designed to detect money laundering or terrorist financing, but are able to detect and report unusual/uncharacteristic behaviour by customers, as well as patterns of behaviour that are characteristic of money laundering or terrorist financing