AML: Payment Transactions
This workflow template illustrates the back end processing and underwriting of customer payment requests. Purchase and download this template in PDF and Visio (VSD) formats. You can customize it to fit your own organization, or simply use it to better understand AML: Payment Transaction processes.
Related KPIs : Anti-Money Laundering (AML) Headcount Ratio, Suspicious Activity Reports by Transaction Type, Total Volume: Suspicious Account Activity Investigations
What is AML: Payment Transactions?
The AML: Payment Transactions process involves the back end processing and underwriting of customer payment requests. This process includes customer payment origination, validation of customer identity, customer risk assessment (Office of Foreign Asset Control checks and compliance reviews are conducted on the received payment) and final delivery of payment. If the payment is not accepted, ensure that all pertinent information is recorded before the payment is reported. AML Laws and regulations target activities that include market manipulation, trade of illegal goods, corruption of public funds and evasion of tax, as well as all activities that attempt to conceal such activities.
Download a Sample AML: Payment Transactions
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