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Post Event Transaction Monitoring Systems Still Have a Role in AML Compliance

This press release was orginally distributed by SBWire

Reykjavik, Iceland -- (SBWIRE) -- 11/15/2022 -- We are entering an era where monitoring transactions in real time has become vital. However, post-event transaction monitoring systems still have a key role to play in AML Compliance. Given the increasing complexity of transactions today and the pressure to ensure compliance standards are being met, post-event monitoring is still crucial. This is, essentially, a tool for less critical situations (i.e., where payments may not raise an immediate suspicion), which involves regular reviews that may take place on a weekly or a monthly basis. Indications of unusual activities will arise over time through the monitoring of patterns. Post-event transaction monitoring also involves looking at completed payments alongside money laundering typologies to see where more investigation is likely to be necessary.

Most of the work of post-event transaction monitoring is done by automated systems - monitoring and rules that are intended to highlight challenging patterns in customer activities. This kind of infrastructure allows compliance experts to then manually investigate, ensuring comprehensive AML Compliance. A key element of working with post-event transaction monitoring is ensuring that the rules in place have been clearly defined. Rules should take into account a number of important factors, including the type of customer, customer risk profiles that have been established during a due diligence process, distribution channels and nature and frequency of transactions. With these in place, it's much simpler to carry out effective post-event transaction monitoring. Why does this matter today? Because when it comes to AML Compliance, post-event transaction monitoring is required, not just as good practice, but also to meet the standards of AML Compliance in many countries worldwide.

Lucinity delivers comprehensive transaction monitoring for organizations that are serious about AML Compliance. The platform is intentionally designed to be simple to use, putting the most innovative tools and systems within easy reach for any business. Lucinity software is accessible and effective and also offers a range of other benefits, including productivity improvements and a focus on reducing alert fatigue across compliance risk monitoring processes. Artificial intelligence is crucial to this - as is human intelligence. Lucinity has created software that integrates the best of both and optimizes this augmented intelligence so that it works to help improve AML Compliance whatever the setting. This makes it a vital tool for companies that are keen to reduce exposure to financial crime like money laundering - which is a crime that fuels other crimes.

Since Lucinity was first established in 2018, the firm has been building its network globally, supporting a broad spectrum of organizations looking to improve AML Compliance. The business is driven by the desire to Make Money Good and by a number of core beliefs and values that include continuous learning, human respect and understanding, shared intelligence and a quiet strength. The team has expanded globally on this basis and now has offices in London and New York, as well as Brussels and Reykjavik - with more growth on the horizon for the coming years.

About Lucinity
Lucinity is an anti-money laundering (AML) software developer on a mission to Make Money Good. Lucinity aims to solve productivity and efficiency issues for financial institutions through the company's 'Human AI' approach, a toolset that combines next-generation AI with human insights and expertise.

By leveraging AI, the AML software learns from every interaction and continues to improve indefinitely, providing fewer false positives and saving time. This is on top of its best-in-class interface and visualizations that put users first. Professionals can experience Lucinity's AML compliance solution, including transaction monitoring, through a free demo environment available on

Lucinity operates globally, with headquarters in Reykjavik, and serves customers ranging from Tier-1 banks to FinTechs.

Company Quote

Founder and CEO, Gudjmundur Kristjansson, comments, "Lucinity's unique experience in banking, compliance, regulation, and data science has helped us develop a new approach to tackling money laundering—harnessing the best of human intelligence and augmenting it with advanced AI.

Our simple-to-use systems work with analysts, not against them, complementing their skills and making them superheroes so they can take on financial crime, saving institutions time and money in the process.

We believe that by transforming AML, we can have a tremendous positive impact on society. Money laundering is a crime that fuels crime. That is why we set out on the mission of Making Money Good."

To find out more information about AML Compliance visit

Lucinity are regular attendees at Anti-Money Laundering and Fin Tech Conventions around the world. To find out about upcoming Lucinity events visit

For any media enquiries please contact Gary Elliott at Iconic Digital – 020 7100 0726.

For all other enquiries please contact Lucinity at

For more information about Lucinity services, please go to

Lucinity is an AML software company, founded in 2018, with offices in Reykjavik, New York, London and Brussels. Using advanced AI systems, we help banks discover money laundering and really know their customers, more efficiently – to stop the funding of serious crime across the world.

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Steve Pailthorpe
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