Manage payments with AML
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The AML (Anti-Money Laundering) check is a mandatory process that ensures that the payments comply with the requirements of the CTF (Counter-Terrorism Financing) policies and financial sanctions regulations.
The AML check is a part of outgoing and incoming payment processing:
For outgoing payments, the AML check is the next step after the payment initiation.
For incoming payments, the AML check is the first step. And it takes place before crediting the payment to the beneficiary account.
When the payment is under AML review, the status automatically changes to AML_REVIEW. After the AML check is completed, there are two possible outcomes:
The payment passed the AML check.
The payment status changes to AML_APPROVED.
The automated payment processing continues in the following way:
The outgoing payment moves to the payment settlement step.
The incoming payment is credited to the beneficiary's account.
The payment did not pass the AML check.
The payment remains in the AML_REVIEW status.
The payment processing stops.
The payment will be available for resolution under the payment dashboard item Payments for AML approval.
To find the payments that did not pass the AML check:
Click on the Tuum logo in the upper left corner to access the home page.
On the payments dashboard, select the Payments for AML approval option.
Find the payment in question and click the Payment identifier to view the payment details page.
On the payments view page, you can choose the intended action:
Click the AML approve/AML decline button.
Write a comment about the decision and click the Go button.
You can find more information about suspicious payments in the AML service provider interface.
If you have an integration with Hawk.ai, you can access the AML information by clicking AML processes > AML detection identifier.
There are two scenarios of how the AML suspicious payments are handled:
The payment is approved.
The automated payment processing continues in the following way:
The outgoing payment moves to the payment settlement step.
The incoming payment is credited to the beneficiary's account.
The payment is declined.
The payment status changes to CANCELLED.
The payment processing stops.
