10 AML Rules that Every Transaction Monitoring Team Should Consider

In this video, I cover 10 fundamental AML rules that every AML compliance team should consider to help their firms identify money laundering activities. As this video was extremely successful I have published a part 2 with 5 additional AML TM rules, you can find the link to that second video right below.
📥 Get the complete 10 AML TM Rules PDF guide featured in this video! Click here ➡️ fincrimeagent.gumroad.com/l/1...
🎥 Watch the Follow-Up Video:
5 More AML TM Rules - Part 2: • 5 AML Rules For Transa...
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▬▬ CHAPTERS ▬▬
0:00 - AML Rules Intro
02:11 - AML Rule nr.1 Detection of structuring
03:03 - AML Rule nr.2 Customer Details Updated Before a Large Transaction
04:02 - AML Rule nr.3 Unusual Spending Pattern
04:55 - AML Rule nr.4 Low Buyers Diversity
06:08 - AML Rule nr.5 Disproportionate Flow-Through
06:47 - AML Rule nr.6 High-Risk Countries
08:03 - AML Rule nr.7 Immediate Withdrawal to Private Wallets
08:48 - AML Rule nr.8 Cash Transactions
09:33 - AML Rule nr.9 Dormant Accounts
10:23 - AML Rule nr.10 Frequent Conversions Crypto-FIAT or FIAT-Crypto
✅ References:
You can gather useful details information and guidance on the use of automated anti-money laundering transaction monitoring (AML TM) systems on the FCA HANDBOOK PORTAL. This is the link directing you to the relevant pages: www.handbook.fca.org.uk/handb...
🌐 Connect with Me: linktr.ee/fincrimeagent
DISCLAIMER:
This video is intended for general informational or entertainment purposes only. The information in this video is not intended to replace legal advice. The views and opinions expressed in this video are those of the speaker/s and do not necessarily reflect the original policy or position of people, institutions, or organizations that the speaker/s may or may not be associated with in professional or personal capacity, unless explicitly stated. Furthermore, no endorsement of any criminal activity is expressed or implied.
PARTNERSHIPS & AFFILIATIONS:
For transparency, the video you just watched is NOT sponsored. Some of the links included in this space are affiliate links, and I could earn a small commission if you make a purchase. This will be at no extra cost to you and will allow me to continue making more videos like this one.
© Marco Beranzoni - All rights reserved.
No part of this video presentation may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, mechanical, electronic, photocopying, recording, or otherwise without the prior written permission of the owner.
#AML

[@FinCrimeAgent]

Uncover the key to mastering Anti-Money Laundering Transaction Monitoring with my in-depth guide "10 Essential AML TM Rules." Tailored for both newcomers and seasoned professionals in financial compliance. Your journey towards expertise starts here: fincrimeagent.gumroad.com/l/10AMLRules 📘 Don’t miss out on elevating your AML strategies!

[@mohammadlemarshahin658]

Finally, I found the video i was looking for about AML. Thank you for your efforts.

[@FinCrimeAgent]

Glad to read that 🙂 Thanks for commenting here 👍🏻

[@eurochucknorris6622]

stopping by to show support, excellent video on AML Rules, I appreciate that these educational videos are short enough to listen to and its a great refresher course for AML/Compliance employees.

[@FinCrimeAgent]

Hi, thank you so much for your comment. I’m very glad that my video is useful to you 🙂 Feel free to let me know should you have other topics you’d enjoy me to cover in the future. Thanks again for stopping by!

[@casmartin790]

Videos like this are gonna help me to smash my interview (when I finally land one 😁👍🏾) Edit: Thanks for all you do, you've been helping me since my exams and now I've passed them all 🙏🏾

[@FinCrimeAgent]

Hi Martin, thank you for your comment. That’s excellent! Well done on passing your exams 👍🏻 Just to let you know, tomorrow I’m publishing a new video part of a short series of interviews where my guests will be sharing how is like to work in some of the entry level roles in the industry. I’m sure you will find interesting those videos too 🙂. Thanks for watching my channel!

[@vijaybharadwaj7777]

Excellent video to the point. Thanks for this. Possibly I would add rules around one to many and many to one plus volume/ velocity checks as part of my basic trxn monitoring rules.

[@FinCrimeAgent]

Hi Vijay, thanks for your positive comment 👍🏻 Yes also those rules you have mentioned are indeed common and widely used by AML TM systems. I’m considering to produce a follow up video to include more AML rules that didn’t fit in this first selection. Would that be useful?

[@kipyegonmoses9902]

Vivid and precise. Big up man I fully depend on your expertise. Keep them coming.

[@FinCrimeAgent]

Thank you Moses, I’m glad you’re finding valuable my videos 🙂

[@caritogalego6508]

Excellent video! Thank you for the refresh about AML

[@FinCrimeAgent]

Hi Carito, thanks for leaving your comment on the video 👍🏻

[@victoriaadelugba7788]

Thank you for this video. This just helped me better understand the importance of these rules and what the results/report generated from them could mean.

[@FinCrimeAgent]

Hi Victoria, thanks a lot for sharing here your feedback 👍🏻 I’m very glad this was useful to you 🙂

[@saurishroy781]

Very helpful video.. Watched it multiple times.. Thank you 🤗

[@FinCrimeAgent]

Hi Roy! Thank you for watching my videos 🙂

[@charchar5887]

Excellent information! Definitely subscribing.

[@FinCrimeAgent]

Thank you. I appreciate your positive feedback & thanks also for subscribing 👍🏻

[@shalinisingh5842]

Your video is very useful to me to understand about AML process

[@FinCrimeAgent]

Thank you for your positive feedback 👍🏻

[@britishspy3407]

I highly recommend this channel to the beginners.

[@FinCrimeAgent]

Thank you for watching 👍🏻

[@pradyumnsrivastava3845]

Very informative, thank you

[@FinCrimeAgent]

Thanks for watching! I’m glad you enjoyed my video 👍🏻

[@nickparfitt5009]

Good video! Nice and concise, well done.

[@FinCrimeAgent]

Thanks for your feedback. Much appreciated 👍🏻

[@suchitkakirde1733]

King of AML

[@FinCrimeAgent]

Hey thank you! That’s a big compliment … but since I’m spending so much time to create content for this community I’ll take it 😁 Thanks for watching my channel!

[@user-yz6ky1lo4t]

Great one ! Thank you !

[@FinCrimeAgent]

Glad you liked it! Thanks for watching 👍🏻

[@lifewithnatu]

Got my first AML job and your videos are super helpful

[@FinCrimeAgent]

That’s amazing! Congratulations and well done 👍🏻 I’m very glad that my videos supported you during the preparation process 🙂 My best wishes for a long and successful career.

[@Elishea001]

What is your pay if you don’t mind my asking?!

[@miaxiao3523]

Thanks for your sharing❤

[@FinCrimeAgent]

Hi Mia, thanks for watching - I’m glad this video was useful to you 👍🏻

[@muhammadyaseenofficial2928]

Very nice explanations

[@FinCrimeAgent]

Thank you for the positive feedback. I appreciate that 👍🏻

[@amjadhussain7581]

Excellent

[@FinCrimeAgent]

Thanks a lot for commenting 👍🏻

[@Witcher1989]

Thank you for this valuable lecture

[@FinCrimeAgent]

I’m glad to hear that my list of AML rules was useful to you. Thanks for watching and commenting on this video 👍🏻

[@omprakash070]

Thanks!

[@FinCrimeAgent]

Thanks to you for watching Prakash 👍🏻

[@natibet7546]

I'm a PM for relevant technology and your videos help me tremendusly when talking to target clients and users. Thank you

[@FinCrimeAgent]

Thank you Nati! Is amazing for me to read that 🙂 Thanks for sharing such a positive feedback 👍🏻

[@sagarshiralakar6256]

Thanks 👍

[@FinCrimeAgent]

Thank you for watching 👍🏻

[@neochris2]

Thank you. Very good channel

[@FinCrimeAgent]

Thanks for your positive feedback 👍🏻 I’m glad that you are finding interesting my videos 🙂

[@ayodejijolaoso3043]

Excellent video on AML Rules

[@FinCrimeAgent]

Thanks for your positive comment! I'm glad it helped you. You can now get some extra support in setting up AML rules using my FinCrime Agent GPT tool. Here is the link to it: chat.openai.com/g/g-6z1jnZLCV-fincrime-agent Let me know what you think of it! Thanks, Marco

[@FinCrimeAgent]

🚀 Become a FinCrime Agent Patron and unlock exclusive perks! By joining my Patreon community, you'll get access to special content, shout-outs, private Q&As, and more! Help me reach 100 patrons by the end of 2023, and let's grow this community together. 😃 Check out the different tiers and join now: www.patreon.com/FCAgent 🔥 Your support helps me create even more valuable content! Thank you! 🙏

[@JiayiRen-jy6qc]

Thank you so much!!!

[@FinCrimeAgent]

Thanks for watching and commenting on my video 👍🏻 I’m glad you are finding useful my shortlist. To download a PDF with those main AML TM rules check the link in the video description.

[@shishirrao80]

Exceptional work, don't think anyone has covered these rules in such details

[@FinCrimeAgent]

Thank you so much for your positive feedback 🙂 There is also a follow-up to this video with 5 additional AML TM rules to keep in mind. Here is the link to it: kzbin.info/www/bejne/g56qY2ZniJtpa9U Thanks for watching 👍🏻

[@richasaraf312]

Great video..pls do a video on red flags for financial institution on suspicious transaction

[@FinCrimeAgent]

Hi and thank you for commenting on my video. That's a very good idea, I will definitely include your suggestion about AML related red flags to my content roadmap :) In the past I created one video focused on red flags related to Sanctions Circumvention, maybe you can already benefit from some of the material I included in that video. kzbin.info/www/bejne/hYnQiKGkrNqFf7M Thanks again for watching my channel!

[@subinalex88]

Thanks for this :)

[@FinCrimeAgent]

Thanks for watching 👍🏻 Should you need a PDF with full details on those 10 AML TM rules the link is in the video description.

[@ambrose5976]

Molto utile, grazie 🙂

[@FinCrimeAgent]

Grazie mille per il supporto. Sono felice che il mio video ti sia utile. Qui trovi anche una seconda parte con altri 5 detection scenarios kzbin.info/www/bejne/g56qY2ZniJtpa9Usi=sRoqb0PCH9lmIStF Un saluto! Marco

[@giovanni007]

Grazie Marco, contenuti eccezionali

[@FinCrimeAgent]

grazie a te Giovanni! I'm glad that you like my content 👍🏻🙂

[@snehamathew8044]

Please add more videos. Your content is excellent. Will you please do ACAMS lessons too ?

[@FinCrimeAgent]

Hi Sneha, thanks for leaving your positive comment here. I’m definitely adding more videos to my channel 👍🏻 usually on a weekly or biweekly basis max. Thank you also for your suggestion abt including more ACAMS related content, many people are taking qualifications from ACAMS so I will surely consider it going forward 🙂 Although I published already some videos supporting those that are studying for such qualifications, see for example my FATF 40 overview: kzbin.info/www/bejne/a5SQooiGndqYr5I Welcome to our FinCrime Agent community 👍🏻 Marco

[@Cobycom1]

thanks

[@FinCrimeAgent]

You're welcome! Thanks for watching 👍🏻

[@thepowerofpositivethinking2593]

its interesting tutorial ....

[@FinCrimeAgent]

Thanks for watching and sharing your feedback 👍🏻

[@GP-ez5ms]

Starts at 2:15

[@FinCrimeAgent]

Thanks for commenting on this video 👍🏻 Was that a recommendation for future videos (implying to cut any intro?)

[@shravanireddy4569]

Please do a video on importance of AML SAM Simulation or transactions simulation.

[@FinCrimeAgent]

Hi and thank you for your comment. I will be happy to include in the 2022 video roadmap one dedicated video to cover TM simulations. Once that video will go live on the channel I will let you know. Thanks again for your insight 🙂👍🏻

[@humanbeing00001]

Your video was very useful 🙂

[@FinCrimeAgent]

Thank you for your feedback. I’m very glad to read that 👍🏻

[@shravanireddy4569]

@@FinCrimeAgent Can you also please explain what are OOB rules and Difference between SAM OOB rules and Fraud/ AML OOB rules.

[@FinCrimeAgent]

Ok, I will keep this aspect also in mind when doing my research to create the video 👍🏻

[@amirbehboodi9703]

Thanks for excelent videos. In number 5, what credit and debit mean? Credit is depositing money and debit is withdrawing money?

[@FinCrimeAgent]

Hi Amir, for rule 5 credits and debits are seen more as amount of money going in and out of the account. As mentioned in the video that rule is often applicable to a merchant like a market place so they won’t have many actual withdrawals but rather flow of money in/out. Let me know if this clarification was helpful🙂 Thanks for watching 👍🏻

[@amirbehboodi9703]

@@FinCrimeAgent Thanks it was helpful. I appreciate your explanation.

[@Matlabkuchbhijese]

Any idea on criteria to convert High Risk customers to med risk

[@FinCrimeAgent]

Hi, thanks for commenting on the video. Your question is an interesting one but I don’t think I can give you a straight answer to it. There are many things to consider, but at high level I think that it will depend very much on what makes the customer high risk in the first place. If practical actions can be taken by the client to reduce their high risk status, then keeping their RM involved for ongoing discussions with the AML/Compliance team could help the customer in return better understand their risks and guide them into a lower risk tier. Although, in real terms this can also be very challenging as the approach would need to be: a) in line with your company policy on dealing with high risk clients; b) should not be in conflict with relevant regulations dictated by your jurisdiction; and c) be an internally agreed approach that does not create risks of tipping off. As a starting point I can suggest you to discuss the matter internally with your risk or compliance team. If this problem is applicable to a cluster of customers your organisation could also consider starting a programme to address those issues in a more structured way. I hope this make sense and thank you agin for watching my videos.

[@lefkizafiropoulou1084]

hey there , please can you show the compliance monitoring programe in excel for example.

[@FinCrimeAgent]

Hi Lefki, thanks for commenting on the video. The rules I mention in this video are typically implemented using an AML TM automated solution. I assume that you could write some basic rules in excel should you wish to run your AML TM analysis in a manual fashion… However, I doubt a manual process would provide you with the effectiveness and efficiency now expected by most regulators.

[@shatabdigoswami3076]

hi there....nice content,though the coupon code seems not working in agrc site

[@FinCrimeAgent]

Hi Shatabdi, thanks for letting me know. Could you please confirm that you are following the 3 steps indicated in the video description? If you are and still experiencing issues, please let me know what error message you get and I will follow up with AGRC. Thank you 🙂

[@shatabdigoswami3076]

@@FinCrimeAgent yes it is showing the course value @£650....fca20 not applicable

[@FinCrimeAgent]

Ok thank you. I’m checking with them and will update you 👍🏻

[@FinCrimeAgent]

Hi Shatabdi, I checked with AGRC and they confirmed that everything seems to be okay with my code (FCA20). Please try again, and if you still encounter an error message, email [e-mail] or [e-mail] for any issues with the platform. Kindly keep me updated on this because everything should work fine for you, just as it does for everyone else. Thanks! Marco

[@lafleur6089]

i want to get an AML, where can I do the training?

[@FinCrimeAgent]

Hi there. Many organisations support traditional education courses allowing you to receive certificates or even diploma in AML and other Fin-Crime related topics. Some of the most known in the industry are ACAMS and the ICA and they are generally well recognised (I'm not associated with any of those organisations by the way). So formal education is indeed a good avenue to take. Also, your own industry knowledge developed with time is going to play a key part to further support your learning path and future career. I try to provide useful information from my videos so I hope that some of my contents can assist you to enrich your understanding on those topics you want to learn more about. In one of my 1 to 1 sessions we discussed the importance of Financial Crime Compliance trainings so perhaps you are also interested to watch that video: kzbin.info/www/bejne/nJKUhoGnfp6qjZI Do let me know how you are getting on and if you need more info leave your comments on my videos as we have a fantastic community here that can also give you more tips. My very best wishes and thanks again for watching my channel.

[@ChristinaFarrugia]

Do you have any typical AML rules/scenarios for debit card withdrawals and usage?

[@FinCrimeAgent]

Hi Christina, thanks for your comment. I'm leaving some of those AML TM rules for you here and I hope they will help you as a starting point. - Large or frequent cash withdrawals: This rule is designed to detect large or frequent cash withdrawals, which may indicate an attempt to withdraw funds obtained through illicit activities. The rule might trigger an alert if a customer withdraws cash in amounts above a certain threshold, or if they make a large number of withdrawals within a certain period of time. - High-risk merchant: This rule is designed to detect transactions that occur at high-risk merchants, such as casinos, jewellery stores, or car rental agencies. These types of merchants are commonly associated with money laundering activities, and transactions that occur at these merchants may be flagged for further investigation. - Structuring: This rule is designed to detect transactions that are structured to avoid the reporting requirements of cash transactions above a certain threshold. Transactions that appear to be structured in this way can indicate an attempt to evade detection by breaking a large transaction into smaller, less noticeable amounts. - Suspicious debit card usage: This rule is designed to detect debit card usage patterns that are indicative of money laundering activities. For example, if a customer has been using the debit card in a location different from their usual location, or if the customer has been making purchases that do not match their usual spending patterns, these transactions might be flagged for further investigation. Please do keep in mind that these are just a few examples of the types of rules that a typical AML transaction monitoring system may use to identify suspicious activity related to debit card withdrawals and usage. These rules are just a starting point, and transaction monitoring systems are typically customized to meet the specific needs of each financial institution. I hope this is helpful. Marco

[@veronicallerena7261]

@@FinCrimeAgent Thank you so very much and I hope you never stop sharing your wisdom

[@FinCrimeAgent]

@@veronicallerena7261 thanks for you kind words Verónica 👍🏻 I will keep producing content I promise 🙂 P.S. Feel free to check out my Patreon to influence what type of videos will be prioritised, get access to my PPT presentations, live Q&A and more exclusive content. Here is my link: www.patreon.com/FCAgent Much appreciated 🙏🏻

[@rareisreal]

The delivery company told me that i need anti money laundering documents to release my parcel 📦 which contains with cash. I don't know this is truth or scam. The delivery company asked me to pay documents fee as $17k. Please can you tell me about this, i really need your help

[@FinCrimeAgent]

That’s a lot of fees for a delivery! I would report to local authorities, more likely to be scam than anything else.

[@IsmaaciilShiiq]

Sir help me Aml problem I want to aske you so where I contact you boss😊

[@FinCrimeAgent]

Hi, feel free to get in touch by submitting a message on the website contact form. This is the link to it: fincrimeagent.com/contact-us/ Thanks!

[@chukwuemeka9859]

Excellent

[@FinCrimeAgent]

Thank you so much for the positive comment 😀