Monitoring covers checks to determine whether transactions breach Anti-Money Laundering (AML), Market Abuse or Payments regulations as well as for the purpose of Fraud prevention and detection. Rules with regard to AML and Combatting the Financing of Terrorism (CFT) require firms to employ software to prevent and report such activities like Currency Transaction Reporting systems that monitor large cash transaction. Other systems are used for the surveillance of other suspicious activities, for example, in relation to insider dealing or market manipulation. RegTech aims to automate these processes and provide better analytics, for example, using artificial intelligence and machine learning to do so.
RegTechs for Monitoring: