{"id":25310,"date":"2013-05-16T14:32:24","date_gmt":"2013-05-16T09:02:24","guid":{"rendered":"http:\/\/vskills.in\/certification\/tutorial\/?p=25310"},"modified":"2024-04-12T14:18:08","modified_gmt":"2024-04-12T08:48:08","slug":"methods-of-monitoring","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/methods-of-monitoring\/","title":{"rendered":"AML KYC Tutorial | Methods of monitoring"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"400\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Introduction-to-Money-Laundering-24.png\" alt=\"Methods of Monitoring topic details\" class=\"wp-image-91745\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Introduction-to-Money-Laundering-24.png 750w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Introduction-to-Money-Laundering-24-300x160.png 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/figure><\/div>\n\n\n<h3><strong>Methods of Monitoring<\/strong><\/h3>\n<p>Banks need to have suitable mechanisms to identify suspicious transactions. The methods of monitoring may be broadly classified as follows<\/p>\n<h4><strong>Observation<\/strong><\/h4>\n<ul>\n<li>The staff at the bank&#8217;s branches may at the time of processing the transaction or otherwise come across certain transactions not in line with the profile of the customer.<\/li>\n<li>Certain behaviour displayed by the customer during their interactions with such customer may also lead to suspicion.<\/li>\n<li>Banks may advise their branch staff to report such instances to the principal officers\/ his representatives so that additional due diligence may be done on same.<\/li>\n<\/ul>\n<h4><strong>Analysis of Exception Reports<\/strong>:<\/h4>\n<ul>\n<li>Banks may have in place a system of generation of exception reports at branches or at the central office to examine accounts based on certain threshold limits.<\/li>\n<li>Suitable due diligence may be conducted for these accounts and accounts concluded to be suspicious may be reported to the FIU-IND through the principal officer.<\/li>\n<\/ul>\n<h4><strong>AML Software<\/strong>:<\/h4>\n<ul>\n<li>Banks may have an AML software to generate alerts\/ exceptions and then channel these alerts for suitable due diligence and reporting.<\/li>\n<li>Alerts concluded to be suspicious might be reported to the FIU-IND through the principal officer.<\/li>\n<li>One of RBI circulars requires banks to put in place an appropriate software application to throw alerts when the transactions are inconsistent with risk categorization and updated profile of customers.<\/li>\n<\/ul>\n<div class=\"apply\">\n<h3>\u00a0<\/h3>\n<p><a href=\"https:\/\/www.vskills.in\/practice\/aml-kyc\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-91326 size-full aligncenter\" title=\"AML KYC Vskills\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Corporate-Governance-Professional-1.png\" alt=\"AML-KYC Compliance officer free practice test\" width=\"960\" height=\"150\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Corporate-Governance-Professional-1.png 960w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Certified-Corporate-Governance-Professional-1-300x47.png 300w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><\/a><\/p>\n<\/div>\n\n\n<p><a href=\"https:\/\/www.vskills.in\/certification\/tutorial\/aml-kyc\/\" target=\"_blank\" rel=\"noreferrer noopener\">Go back to Tutorial<\/a>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <a href=\"https:\/\/www.vskills.in\/certification\/Certified-AML-KYC-Compliance-Officer\" target=\"_blank\" rel=\"noreferrer noopener\">Go to Home Page<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Methods of Monitoring Banks need to have suitable mechanisms to identify suspicious transactions. The methods of monitoring may be broadly classified as follows Observation The staff at the bank&#8217;s branches may at the time of processing the transaction or otherwise come across certain transactions not in line with the profile of the customer. Certain behaviour&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[3356],"tags":[6068,6069,6071,6065,6073,6072,6070,6066,71,6067,5097,3589,6074],"class_list":["post-25310","page","type-page","status-publish","hentry","category-aml-kyc-2","tag-aml-certification","tag-aml-kyc-certificate","tag-aml-kyc-certificate-online","tag-aml-kyc-certification","tag-aml-kyc-course","tag-aml-kyc-in-india","tag-anti-money-laundering-certificate","tag-anti-money-laundering-certification","tag-certification","tag-compliance-certification","tag-methods-of-monitoring","tag-online-certification","tag-vskills-certification"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AML KYC Tutorial | Methods of monitoring - Tutorial<\/title>\n<meta name=\"description\" content=\"Learn Methods of monitoring. 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