Challenge
A digital bank specializing in fintech partnerships faced increasing regulatory scrutiny over its cryptocurrency transaction monitoring program. The institution struggled with inefficient alert rules, leading to excessive false positives and a growing backlog of unworked alerts.
Additionally, an independent regulatory review found gaps in the bank’s approach to rule tuning and risk alignment within its AML compliance program. The institution needed a more effective system to identify and mitigate risks associated with crypto-related transactions while maintaining operational efficiency.
Global Managed Services Approach
AML RightSource implemented a phased strategy to help the bank remediate compliance gaps and enhance its crypto transaction monitoring framework. Our expert analysts worked through a lookback review of more than 7,800 alerts, applying refined rule parameters to determine accurate risk levels. In parallel, our managed services team scaled resources as needed, ensuring continued compliance with regulatory expectations while providing flexible operational support.
Value Delivered
AML RightSource’s efforts resulted in a more precise and effective crypto transaction monitoring system, ensuring regulatory adherence and operational stability for the bank.
Successfully cleared the alert backlog, reducing compliance risk and improving operational efficiency.
Optimized AML rule tuning, lowering false positives while enhancing risk detection for crypto-related transactions.
Ensured the bank remained in regulatory compliance while adapting to the evolving financial crime landscape.
