Transaction Monitoring
Monitor transactions to detect and prevent financial crimes.
At ACX Compliance, our Transaction Monitoring Support Package is designed to bolster your AML compliance efforts by providing comprehensive monitoring and investigation services. We combine advanced blockchain analytics with expert investigative techniques to ensure that all customer transactions are thoroughly screened for potential risks, helping your organization stay ahead of financial crime.
Key Compliance Features
Investigate Customer On-Chain Transactional Activity
We meticulously analyze customer on-chain transactional activities to detect money laundering and other potential financial risks. Our team uses advanced tools to scrutinize every transaction, ensuring that no suspicious activity goes unnoticed.
Assess Customer Profiles And Behavior
Our experts assess customer profiles and transactional behavior to determine if any further investigation is warranted. We ensure that all customer activities align with their known profiles and behaviors, identifying anomalies that may signal potential risks.
Conduct Investigations Into On-Chain And Off-Chain Alerts
We conduct in-depth investigations into both on-chain and off-chain transaction monitoring alerts. By examining all aspects of transactional activities, we help you mitigate risks and maintain regulatory compliance.
Perform Transaction Screening Using Blockchain Analytics Tools
Our team utilizes state-of-the-art blockchain analytics tools to screen transactions. This enables us to identify and flag any transactions that deviate from normal patterns, ensuring that potential risks are addressed promptly.
Monitor And Document Unusual Activity
We continuously monitor and meticulously document any unusual activity or potential AML flags. Our thorough record-keeping helps you maintain a robust audit trail, ensuring full compliance with regulatory requirements.
Roadmap
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01
Choice of Jurisdiction
The first step involves selecting the jurisdiction where the entity will be incorporated. The options include Dubai World Trade Centre (DWTC), Dubai Multi Commodities Centre (DMCC), or Dubai
Economic Department (DET).
02
Initial Disclosure Questionnaire
Once the jurisdiction is selected, the entity will receive an Initial Disclosure Questionnaire. This questionnaire must be completed and submitted to the Regulator for review.
03
Full Document Submission
The Regulator will review the submitted Initial Disclosure Questionnaire. During this review process, the Regulator may issue a Request for Information (RFIs) to seek clarifications regarding the application and the business model. If the Regulator is satisfied with the initial submission and any additional information provided, the Initial Approval (IA) or Approval in Principle (AAN) will be granted.
04
Initial Approval (IA) / Application
Acknowledgement Notice (AAN)
Following the IA/AAN, the entity must compile and submit a comprehensive list of documents to the regulator. This submission includes approximately 65 sets of documents, ensuring compliance with the relevant rulebooks and regulatory requirements.
05
Regulatory Evaluation
The Regulatory will evaluate the submitted documents. This step often involves multiple iterations, with the Regulator requesting amendments or additional clarifications. Typically, this process can take up to 2-3 rounds to finalize the submissions and meet all regulatory requirements.
06
Receipt of License
Upon successful completion of the evaluation process and satisfaction of all regulatory requirements, the entity will receive the VARA license, officially authorizing it to operate within the chosen jurisdiction.
Why Choose Us?
Overwhelming Volume Of Alerts
Transaction monitoring systems can generate a vast number of alerts, many of which may be false positives. Our team prioritizes and filters alerts, focusing on the most critical ones. By distinguishing between genuine threats and benign activities, we reduce the noise and enable your team to concentrate on the highest-risk cases.
Difficulty Keeping Up With Regulatory Changes
Staying compliant with changing regulations is a continuous challenge. Our specialists are well-versed in the latest AML regulations and industry best practices. They ensure that your transaction monitoring processes remain compliant with current requirements, helping you navigate the complex regulatory landscape with confidence.
Integration With Existing Systems
Integrating new processes with your existing systems can be challenging. Our specialists work seamlessly with your internal teams to integrate their monitoring expertise into your current operations. They ensure that the transition is smooth and that their services enhance, rather than disrupt, your existing workflows.
Documentation And Reporting Challenges
Accurate documentation and reporting are essential for regulatory compliance and audits. Our specialists provide detailed documentation of all monitored transactions and investigations. This comprehensive record-keeping supports your compliance efforts and provides a clear audit trail for regulatory reviews
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Get insights on our compliance services, how we streamline regulatory processes, and safeguard your crypto operations.
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