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The Complete Guide to Transaction Monitoring: Everything to Know

Transaction monitoring is the practice of proactively and reactively identifying outlier events such as payments or business … See more

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URL: https://www.unit21.ai/blog/the-complete-guide-to-transaction-monitoring

Insurance Compliance Requirements (+ the Consequences of Non …

WebInsurance Compliance Requirements (+ the Consequences of Non-Compliance) April 6, 2023. Compliance in the insurance industry is difficult to manage — different rules apply …

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Combating Insurance Fraud: How to Detect + Prevent It

WebOne of the first steps organizations need to take to prevent insurance fraud is to verify the customer - and their information - from the beginning of their relationship. From the point …

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8 Types of AML Software & Solutions + Top Features to Look For

WebAML is essential for almost any institution that handles money. This includes financial institutions like traditional banks, credit unions, small banks, lenders, currency …

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Identity Verification: The Complete Guide for Risk and Compliance …

WebID Document Verification. An ID Document Verification is a simple system that checks the ID documents to ensure they are legitimate. This can include a driver’s license, passport, or …

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Regulatory Agencies: What They Are + How They Ensure …

WebGovernment regulatory agencies are those that are established by legislative bodies on a federal, regional, or local level. Their purpose is to translate laws regarding how …

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Support & Service Level Agreement

WebUnit21 personnel will be available to answer product questions and otherwise assist in troubleshooting problems that may occur in the day-to-day running of the Services. …

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Payments Compliance & Monitoring Explained

WebPayments Compliance & Monitoring Explained. February 9, 2023. The constantly changing climate of eCommerce and online marketplaces has led to many changes to how …

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How to Choose the Best Transaction Monitoring Software for

WebHow to Choose the Best Transaction Monitoring Software for Your Needs. January 10, 2022. Global crime networks are continuously devising sophisticated ways to launder …

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Double Dipping in Fraud: What It Is, Main Types, + How to Prevent

WebDouble dipping in fraud is the process of illicitly receiving income from two different sources at the same time. This can be done in a number of ways, including manipulating …

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8 AML Penalties, Fines, and Sanctions + Examples You Should Avoid

WebAML penalties and fines can reach $20 million, depending on the type of offense, and imprisonment can be as long as 30 years. ‍. Starting in 2020, those in violation of the …

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Straw Purchases: Common Types & How to Detect and Prevent …

WebUnmask Illicit Straw Buyers with Unit21’s Anti-Fraud Solutions. Illegal straw buying is both a fraud issue and a Trust & Safety issue.It’s a fraud issue because it can be used to steal …

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Scareware: What It Is, How It Works, & How to Prevent It

WebIn general, scareware schemes follow a few basic steps: ‍. The fraudster targets the victim with a series of alerts (pop-ups, emails, and more), prompting the user to download a …

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Operational Risk: Definition, Framework, & Management

WebOperational risk management is an ongoing process. So it’s essential to monitor both risks and the controls on them continually. In some cases, risks may need tighter controls. In …

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Fintech Compliance: 20+ Regulations Your Company Should Know

WebAs consumers seek accessible, easy-to-use solutions in everyday life, we’ll see more people adopting Fintech solutions as alternatives to their traditional banking, insurance, and …

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Credit Union Compliance Checklist

WebSo some of the regulations that apply to them can vary from those of traditional banks. ‍. This credit union compliance checklist will give a brief overview of what credit unions need to …

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24 Neobank Statistics to Help with Risk and Compliance

WebSource: Statista. Source: eMarketer. There were 146.42 million global neobank users in 2021. The number of neobank users is expected to hit 210.02 million in 2022, and …

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