Glossary
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Risk assessment
MarketGuard offers real-time monitoring of the companies, their key personnel and UBOs. If adverse information is found, a user is notified about it.
Risk classification
An AML officer can manually set a high or normal risk level for each client.
Roles
MarketGuard supports the following user roles:
Admin/Director (all rights)
AML officer (no rights to change settings or add new users)
Client support (the right to leave comments and attachments)
Read/only access.
Sanctions
MarketGuard allows checking a great number of sanction lists such as OFAC, UN, HMT, EU, DFAT and more.
Status updates
Push notifications to a dedicated Slack channel will help keep not only the compliance team but also your sales force informed about the current status of clients being onboarded.
Transaction monitoring
MarketGuard currently allows to set up the following alerts:
daily turnover per client
30d turnover per client
domicile (country of incorporation) of a client
(for fiat transactions) payment country (where the bank of a client is located)
(for blockchain transactions) a risk score that is calculated based on the share of high-risk sources associated with the transaction (examples are known hacks, scams, child abuse, gambling etc.)
Travel rule
The travel rule requires verification of the ownership of the wallet from/to which digital assets are sent. A VASP has to identify a sender for incoming and a recipient for outgoing blockchain transactions.
If a sender or a recipient of a transaction is the same client of the VASP (for transfer of own funds), wallet verification is sufficient. MarketGuard has implemented this.
If a sender or a recipient of a transaction is an independent party(for transfer from/to third parties), information must be exchanged between the VASPs involved. MarketGuard will implement this feature in 2024.
Wallet verification
MarketGuard supports the following methods of wallet verification (as per the Travel Rule requirements):
Satoshi test
Print screens (screenshots)
Connecting a Web3 wallet (such as MetaMask)
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