Maryna Pavlenko, a leading financial monitoring expert at GLOBUS BANK, discussed the algorithm banks use to detect suspicious transactions that may be carried out for illegal purposes, including those potentially involving the cardholder in illegal online gambling.
Commercial banks closely examine unusual activity on electronic payment instruments compared to other periods (for example, a sudden sharp increase in the number of card transactions on specific days), as well as an increase in the volume of financial operations not supported by official documents.
Banks also analyze the consistency of transactions with the available customer data (such as place of employment, source of income, etc.) and review the internet resources where the customer buys goods, pays for services, or from which they receive funds.
"Most clients who use the bank's P2P transfer service typically perform a small number of transactions for modest amounts. Therefore, any excessive or increased activity on their part is always carefully scrutinized. The bank could inadvertently become involved in or even be complicit in potential illegal activities. A financial institution's reputation is built over years, but it can be lost due to a single, albeit high-profile, scandal," summarized Marina Pavlenko.
