Anomalies Detection

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Overview

Anomalies help you monitor your financial data, flag suspicious activities in real-time, and notify you to take action. Blnk currently flags anomalies based on pre-configured rules built into your Cloud workspace.

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Anomaly types

There are three anomaly types — balances, transactions, and identities.

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Balance anomalies

These anomalies are flagged when suspicious activities are detected in one or more balances.

• Increased credit/debit frequency detected: Frequent unexpected credit/debit transactions above normal activity patterns may indicate account irregularities or potential unauthorized access.

• Unusual repeated transactions: Repeated transactions with consistent amounts and timing that deviate from established patterns may signal automated fraud attempts or account tampering

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Transaction anomalies

Transactions get flagged due to:

• Suspicious time of transaction: Activity occurring outside established operating timeframes or expected business cycles warrants additional verification to ensure transaction legitimacy.

• Suspicious transaction keywords: Analysis of transaction descriptions identifies keywords associated with high-risk activities, suspicious patterns, or prohibited transactions.

• High-risk locations: Transactions involving jurisdictions identified as having elevated financial crime risk or inadequate compliance frameworks require enhanced scrutiny and additional due diligence measures.

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Identity anomalies

Identities get flagged due to:

• PEP or sanctions list match: he identity has matched against records in politically exposed persons databases or international sanctions lists, requiring verification and review.

• High-risk locations: The identity is associated with a jurisdiction designated as high-risk, necessitating additional verification steps and enhanced due diligence procedures.

• Unusual activity by senior customer: Unusual transaction patterns or account activities are detected on accounts belonging to elderly customers, triggering enhanced monitoring protocols.

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Anomaly statuses

There are three anomaly statuses:

FLAGGED

• The system creates an initial notification requiring investigator review.
• Each flagged case enters a queue for assignment to the investigative team.
• Automated alerts are sent to relevant compliance personnel.

INVESTIGATING

• An assigned investigator begins analyzing the full anomaly trail.
• The system tracks all investigative actions in a detailed audit log.
• The case handler documents findings and evidence during review.

RESOLVED

• The investigation concludes with a formal determination.
• All required regulatory reports are filed if suspicious activity is confirmed.
• The final case report documents actions taken and resolution details.

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