Case Study: Lumon tackles money laundering risks with ComplyAdvantage

Lumon tackles money laundering typologies with new rule sets deployed in 48 hours

Lumon, a provider of overseas payments and foreign exchange services for individuals, SMEs, and larger corporates, needed a more effective way to manage financial crime risk across cross-border payments. The company partnered with **ComplyAdvantage** for customer screening and monitoring, as well as transaction monitoring, to replace legacy tools and improve compliance with evolving AML requirements.

With **ComplyAdvantage**, Lumon centralized payment screening and transaction monitoring in one system via a single API, gaining faster connectivity, better data, and stronger visibility into emerging typologies. The solution helped Lumon detect new fraud patterns quickly, including a surge in COVID-related investment fraud, and deploy new rule sets within 48 hours. Lumon reported improved control over its financial crime risk framework and greater confidence in its controls.

Lumon

Alessio Giorgi

Head of Compliance and MLRO