Creating/Understanding Transactions in easyAML

A walkthrough on how to create and view transactions inside the easyAML platform. Every matter you provide a designated service on needs a transaction record - this is the starting point for your AML compliance trail.

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Jump to: Understanding a Transaction · Creating a Transaction

Understanding a Transaction

1. From anywhere in the platform, open the Transactions menu on the left. Every matter you provide a designated service on needs a transaction record - this is the starting point for your AML compliance trail.
2. Click List to see every transaction recorded so far. This is also where you'll come back to check on outstanding CDD, risk ratings, and any items flagged for follow-up.
3. Click any transaction to see a snapshot - its current risk rating, the parties involved, and where it sits in the AML process. If anything needs attention, it'll surface here.
4. Select View Full Transaction Details to open the full record. This is the view an auditor or your Compliance Officer will reference - everything is captured here in one place.
5. Inside the transaction you'll find the risk rating, transaction type, and all associated individuals and entities. Each party shows their KYC and screening status at a glance. The transaction's overall risk rating is calculated from two things: the risk profile of the parties involved, and the nature of the transaction itself. If a party screens as high risk, that flows through to the transaction.

Creating a Transaction

1. To create a new transaction, click Create New under Transactions in the side menu. One important thing to note here: the transaction should be created before you provide the designated service. Under the AML/CTF Act, your CDD obligations attach when the service begins - not at settlement or completion. Creating the transaction first is what starts that compliance clock correctly.
2. You can also start from the list page by clicking Add New Transaction in the top corner - both options take you to the same creation flow.
3. Step 1 captures the core details of the transaction - things like transaction type, property details, and relevant dates. The transaction type matters because it shapes how the platform calculates risk and what CDD steps are required downstream. Nothing here is locked in; you can edit before the transaction is signed off.
4. Once the details are filled in, click Next to move to Step 2 - associating the parties involved in the transaction.
5. Step 2 is where you associate all parties to the transaction - buyers, sellers, individuals, companies, trusts, or any other entity involved. This step matters from a compliance perspective because your CDD obligations extend to every party you're providing a designated service to. For individuals that means KYC; for companies, trusts, or other legal entities, that means KYB - which traces ownership all the way through to the individuals who ultimately own or control the structure.
6. Search your existing records and select a party directly. If they've been through the KYC or KYB process before and are within the two-year validity window, their verified profile and screening results carry across to this transaction automatically - no double-handling. The platform will re-run PEP, sanctions, and adverse media screening in the background each time, so the record stays current without any manual work.
7. If a party isn't in your records yet, they'll need to be added first before you can tag them here.  We have a separate walkthrough on adding individuals and entities - complete that process, then come back to associate them to the transaction. Every party needs to go through KYC or KYB before the transaction can be cleared.
8. Once all parties are tagged, click Next to move to Step 3 - the final details specific to the transaction type.
9. Step 3 captures any remaining details specific to the transaction type - this screen will look slightly different depending on what you're processing. Once complete, click Create Transaction. From here the platform takes over: PEP, sanctions, and adverse media screening runs automatically across all tagged parties. A risk rating is calculated based on your firm's Risk Assessment baseline, the nature of the transaction, and those screening results. If anything lands as high risk, the platform will flag that Enhanced CDD - source of funds and source of wealth documentation will be required. To see the Enhanced CDD please refer to our other resources. Everything is logged to the audit trail from this point forward.
10. That covers creating and managing transactions in easyAML. To recap what's happening under the hood each time you create a transaction: the platform is running screening across all parties, calculating a risk rating against your firm's AML Program, and queuing up any CDD steps that need to be completed before the designated service proceeds. Every action is logged to the audit trail automatically. If you haven't already, check out our companion guides on adding individuals and entities, and running KYC and KYB