AML Transaction Monitoring Rules
Risk Rules Engine
Last updated
Was this helpful?
Risk Rules Engine
Last updated
Was this helpful?
Fast growing fintech startups use LogicLoop to monitor abusive behavior on their platforms and stay compliant with FINRA, SEC and BSA/AML requirements. . Without LogicLoop, analysts are often stuck waiting for engineers to implement alerts directly in the codebase, inhibiting their ability to iterate quickly and experiment.
To get started with monitoring bad actors on your platform on LogicLoop, you'll first want to . This could be production databases like Postgres or MySQL, warehouses like Snowflake, Redshift or Big Query, or APIs like or . Once connected, you can use sample industry templates below as guidance to bootstrap your program. The following templates have been simplified and specific details have been omitted due to the sensitive nature of the content. Contact us at hi@getlogicloop.com to access our fully detailed suite of fraud & risk monitoring formulas.
Query your data to select transactions with large dollar amounts.
Large transactions: Transactions over $10,000
Internal Transfers: Inbound and Outbound Transfers (ACH Debit and ACH Credits) > $3K in Last 3 days
Structuring: At least three credit transactions of at least $9,000 on a rolling 30 day basis
Breaking up transfers: More than 5 transactions between the same parties in 30 days
Sequential transfers: More than 3 money order or checks are sequentially numbered between the same parties in the last 30 days
Profile update before deposit: Users changed bank account details less than 2 days before a deposit
Profile update before withdrawal: Users changed bank account details less than 10 days before withdrawal
Profile update frequency: User changed material aspects of profile more than 5 times in last 30 days
Incoming and outgoing check timing: Percent of outgoing checks made within 3 days of incoming checks in last 30 days
Payments source: Name of person or institution making payments is not same as name of user
Geography of transaction: Transfers to or from a high-risk location or conflict zone
Geography of parties: Originator or beneficiary of transactions are from countries that are high-risk
High volume: User completes more than 10 transactions per day on average for last 30 days
Round dollar value: More than 30% transactions with round or whole dollar amounts in last 30 days
Dormant account activity: New transactions on accounts that have been inactive >60 days
ATM activity: Frequent ATM activity below BSA/AML reporting thresholds
For each transaction flagged, create a ticket for your analysts to review. You can automatically generate a ticket in LogicLoop's .
Specifically, . LogicLoop can help you put these rules in practice, with our complete set of templates. Some examples of the templates we have available are:
