Recent years have provided sobering reminders of what happens when transaction monitoring goes wrong. TD Bank's staggering $3 billion penalty for leaving 92% of transactions unmonitored and NatWest's £265 million fine for systematic failures in monitoring suspicious cash deposits demonstrate that even established institutions can make fundamental errors in their approach to transaction monitoring.

For mid-sized financial institutions across Australia, New Zealand, and the UK, these high-profile failures offer crucial lessons. The stakes are high – compliance costs continue to rise across the industry, yet an estimated $2 trillion in illicit transactions still flow through the global financial system annually.

We've identified five critical mistakes that continue to trip up financial institutions when implementing transaction monitoring systems. Here's what to watch out for – and how to avoid becoming the next cautionary tale.

Read the full post on Jade ThirdEye's blog.