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Introduction
The foundation of the Actio Transaction Monitoring service is its ability to evaluate incoming transactions for financial crime risk through the execution of a number of conditional statements (rules) that are then combined into typologies that describe the nature of the financial crime that the system is trying to detect.
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The channel architecture provides three specific opportunities to take action in response to a typology score:
During the scoring of the typology itself
During the aggregation of the typology score with other typology scores in the CADProc
During conclusion of the transaction evaluation in the TADProc
Where interdiction is required, either option 1 and 2 above is the most suitable to satisfy requirements for urgency and immediacy. Where interdiction is not required, evaluation of the typology is still required to determine if an investigation is warranted, but not as urgently. The evaluation for investigation purposes only can be performed in the TADProc on the conclusion of the transaction evaluation.
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The typology triggers must define a specific threshold value linked to each of the typologies that defines the following workflow outcomes:
Review: If a typology score is equal to or greater than this value, the TADProc will trigger an alert to an adjacent Case Management System via egress API to initiate an investigation into the transaction.
None: If a typology score is less than the Review threshold, no triggered action is taken by the TADProc.
Additionally, if a transaction configuration for a transaction cannot be found, or is empty, no investigation will be triggered out of the transaction.
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