Real Time Payment Message Validation

This module uses the Universal Message Hub to screen, in real time, specified fields looking for exceptions. Messages can be any payment message type supported by the UMH. Typically, a clean message is processed in less than one second meaning that AMLtrac is capable of scaling up efficiently and easily. Messages with suspicious content are quarantined for multiple level authorisation by those users granted access to the Quarantine Management Queue.

Message Rules will include: *

Value Exceptions (Policy): Any single payment above a defined currency value, or equivalent, for the bank’s customer.
Customer Payment Limits: The sum of the total value of all payments for a bank customer above a defined limit expressed either as a tracking currency equivalent and/or an actual currency amount accumulated over a rolling time period.
Currency Exceptions: To stop all messages in a defined currency irrespective of its value.
Country Referrals: Where the bank wants to refer all outbound messages for a particular jurisdiction for manual review and approval.
Multiple Ordering Customers: This is where the bank is looking for payments to a single beneficiary by more than one ordering customer within a given timeframe.
Maximum number of Receipts: This is where the bank is looking for a maximum number of inbound payments to a single entity.
Maximum Single Payment: The value of a single payment above a defined limit equivalent.
New Jurisdiction or BIC code: Where the bank wants to refer (stop) all new payments to a new country or BIC Code. Once the jurisdiction or BIC Code has been acknowledged it has, effectively, been whitelisted for the bank in its entirety. There is also the option for ALL countries and ALL BICs.
Payment Averaging: This is where the bank wants to refer (stop) a single outbound or inbound MT103 if it is greater than defined percentage of the average of a defined rolling day period.
Transaction Type Checking: To check that a customer is only making payments for reasons that he previously declared.

Identifying suspicious behaviour:

To assist in making decisions concerning which rules to put in place about customers and/or beneficiaries AMLtrac provides a series of learning enquiries or reports so that trends may be identified, and the appropriate rule established.