Thematic Review

Using Thematic Review to assess the effectiveness and efficiency of sanction screening and transaction monitoring systems used by regulated entities as part of a regulator's approach to AML/CFT supervision.

We are trusted industry experts

AML Analytics provides the technologies to enable a holistic approach to Thematic Review, empowering regulators to facilitate optimum use of their own resources and capacity. 

Our trusted solutions allow regulators to monitor their markets and promote a transparent overview of the systems used by regulated entities with the reassurance that independent system testing has been carried out to international best-practice standards. 

We bring technical expertise, system knowledge and resource to perform reviews of the AML/CFT screening and monitoring systems used by regulated entities. Our accumulated expertise and state-of-the-art RegTech and SupTech tools we use make the Thematic Review journey simple and straightforward for regulators, supervisors and central banks. 

To date, we have worked with over 30 different regulatory authorities across the globe to test the systems of over 500 regulated entities. 

Sandbox as SupTech

Sandbox provides the capability to deliver all the core components of a Thematic Review for ongoing regulatory supervision and reporting.

It’s an intuitive testing solution which allows for the creation of bespoke sanction testing heuristics which are configurable to suit a regulatory authority’s specific risk appetite. Our Sandbox tool allows a regulator to create test datasets to be run through the sanction screening systems in scope and check system performance across an entire market.

It can also be used to build general tests which cover a wide selection of sanction and PEP information, as well as specific test datasets to target known weaknesses. This allows for iterative tuning and testing capability to provide ongoing system performance and enhancement across an entire market.

Access to Sandbox is via Analyser Online, where analysis tools provide granular level detail about every sanction record that has been hit or missed by a screening system.

When all test results have been compiled, we will deliver Sandbox to the regulator for ongoing use. This will allow for future testing and onsite inspection of additional regulated entities, as well as for continuous checking of screening system results across the market.

Red Flag Tests as SupTech

For transaction monitoring Thematic Reviews, the process starts with an onboarding period to determine the formats in which Red Flag transaction sequences can be uploaded as a batch of transactions into the testing environment of each regulated entity’s transaction monitoring system. 

Following the completion of the onboarding process, the full test will be provided to regulated entities to be run through their transaction monitoring systems. Each regulated entity will be tested simultaneously but over a longer time frame using a bespoke format that will be entirely compatible with their system.

Each test will contain synthetic transaction sequences to mimic the exact transactional patterns of defined money laundering typologies with the intention to trigger one or more of the regulated entity’s internal rules.

Red Flags rules in a system will be challenged not just once, but multiple times and with variation in the transaction sequences. These are created in such a way that each sequence will be isolated from every other sequence so that a true understanding of a transaction monitoring system’s performance can be attained.

Our solutions

Cutting-edge RegTech and SupTech testing, validation and risk assessment solutions for financial institutions and regulatory authorities.

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+44 (0) 1264 889 339