💶Transaction policy

Transaction Monitoring Policy

1. Introduction

Transaction monitoring plays a critical role in the security and integrity of financial gateway companies' operations. This policy aims to establish comprehensive guidelines for transaction monitoring, with a focus on detecting suspicious activity and complying with regulations.

2. Objective

The aim of this policy is to define clear guidelines for monitoring transactions in order to detect suspicious activity, such as unusual transactions or large volumes of transactions over short periods of time. This contributes to protecting the interests of the company and its customers.

3. Responsibilities

3.1. Monitoring Team

The monitoring team is responsible for implementing and maintaining transaction monitoring procedures, as well as administering monitoring technology, including SOC and NOC.

3.2. Senior Management

Senior management is responsible for supporting and promoting the culture of transaction monitoring in the company and guaranteeing the necessary resources to keep the SOC and NOC operational.

3.3.Staff

All employees have a responsibility to comply with transaction monitoring policies and collaborate with the SOC and NOC team when necessary.

4. Monitoring procedures

4.1. Detection of unusual transactions

4.1.1. The monitoring team should develop criteria for detecting unusual transactions, which may include atypical amounts, unusual transaction patterns and suspicious activities.

4.1.2. Alerts and notifications must be configured to identify transactions that meet the detection criteria, with the support of the SOC and NOC.

4.2. Monitoring Large Volumes of Transactions

4.2.1. Monitoring large volumes of transactions is essential for identifying suspicious activity, such as money laundering or fraud, with the support of the SOC and NOC.

4.2.2. The monitoring team must have procedures in place to evaluate high-volume transactions and identify any anomalies, with the help of the SOC and NOC.

4.3. Transaction Pattern Analysis

4.3.1. Transaction pattern analysis is important for identifying suspicious trends, such as recurring or unusual transactions, with SOC and NOC support.

4.3.2. The monitoring team should use data analysis tools with the support of the SOC and NOC to identify patterns that may indicate suspicious activity.

5. Monitoring Technology

5.1. Security Operations Center (SOC)

5.1.1. The SOC is responsible for monitoring security and responding to security incidents, including suspicious activity related to transactions.

5.1.2. The SOC uses advanced security tools and specialized teams to track and respond to suspicious activity in real time.

5.2. Network Operations Center (NOC)

5.2.1. The NOC is responsible for monitoring the performance of the network and IT systems, ensuring that the technical infrastructure for monitoring transactions is operational.

5.2.2. The NOC collaborates with the SOC to maintain the availability of the monitoring tools.

6. Reporting and Responding to Suspicious Activity

6.1. The monitoring team should generate reports on suspicious activities and share them with senior management and, if necessary, the regulatory authorities.

6.2. The company has procedures for responding to suspicious activity to investigate and take appropriate action in the event of suspicious transactions being detected, in collaboration with the SOC and NOC.

7. Regulatory Compliance

The company must comply with all applicable regulations relating to transaction monitoring, including anti-money laundering (AML) regulations, with the support of the SOC and NOC.

8. Transaction Monitoring Training

8.1. All employees must receive training in transaction monitoring to understand the policies, procedures and technologies related to SOC and NOC.

8.2. The monitoring team must coordinate transaction monitoring training throughout the organization, including training on the use of the SOC and NOC.

9. Audits and Reviews

9.1. The company must conduct regular internal audits to assess the effectiveness of transaction monitoring procedures, including the efficiency of the SOC and NOC.

9.2. External audits can be conducted by independent third parties to verify compliance with regulations and the effectiveness of the SOC and NOC.

10. Review and Update

This policy will be reviewed periodically to ensure that it complies with evolving regulations and transaction monitoring best practices, including enhancements to the SOC and NOC.

11. Documentation and archiving

All records related to transaction monitoring, including suspicious activity reports and audit results related to SOC and NOC, must be kept and archived in accordance with applicable regulations.

12. Conclusion

Transaction monitoring, supported by the SOC and NOC, plays a key role in protecting the company and its customers from suspicious activity. Compliance with best practices and regulations, along with effective use of the SOC and NOC, is essential. The company is committed to maintaining high standards of transaction monitoring and responding promptly to suspicious activity to ensure the integrity of its operations.