As a global company collaborating with regulated partners across various jurisdictions, Transaction Monitoring and Approval play a vital role in Tribal's anti-money laundering and financial crime prevention framework.
The purpose of our Transaction Monitoring and Approval function and processes is to:
- Identify and block transactions involving sanctioned individuals, entities, or countries.
- Detect and address transactions and behavioral patterns potentially linked to money laundering, terrorist financing, or other financial crimes.
- Investigate transactions and behavioral patterns to ensure alignment with our understanding of the customer, their business, and our risk tolerance.
- Make decisions on transactions flagged for manual review and on potentially suspicious behavioral patterns.
- For international transactions via the SWIFT network, after submitting a request for information to a banking partner, we may not be able to request a status update for a certain number of working days. The duration varies by banking partner but can be up to 5 working days in some cases.
- For local transactions through the SPEI network, the average approval time is 30 minutes. Please consider this timeframe when scheduling your payments. Over weekends, processing may take longer.
How to identify approval status in the Tribal Platform?
- After completing the transaction through Tribal Pay, please click on “Approval”, and you’ll see the transaction for approval there with the status: pending, approved, rejected. The status may vary depending on the Compliance review.
- After completing the approval process (whether approved or rejected), navigate to the "Transactions" tab. There, you'll find the transaction(s) with their corresponding status: completed or rejected.