Transaction Risk policy

Transaction Risk policy is used to set up rules to approve or reject transactions based on the transaction risk status. It requires you to integrate with a supported Transaction Risk provider. Currently, Liminal Firewall supports TRM Labs for Transaction Risk Monitoring compliance.

Rule parameters

The Transaction Risk policy has the following rule parameters:

• Direction: This specifies whether the rule pertains to outgoing or incoming transactions. You get the following options to select from:
  • Any: Refers to both incoming and outgoing transactions.
  • Send: Refers to outgoing transactions.
  • Receive: Refers to incoming transactions. Note that Liminal currently doesn’t support the incoming transactions (receive) workflow, however, it is in the process to be released soon.
• Risk Score (TRM Labs): This refers to the risk score associated with a transaction. TRM Labs provides the following risk scores:
  • Any: Refers to any score.
  • Not Available: Indicates that there is no risk score associated with the transaction. Or the risk score is unknown.
  • Unknown: The risk score is unknown.
  • Severe: Indicates extremely high risk, suggesting immediate and critical attention is required.
  • High: Represents a significant risk that may impact security or compliance.
  • Medium: Denotes a moderate risk level, warranting caution and potential further review.
  • Low: Suggests minimal risk, generally considered safe with standard monitoring.
• Protocol: This specifies the protocol to which the rule is applied. You get the following options to select from:
  • Any: Indicates that the rule applies to all protocols.
  • Protocol Name: Indicates the protocol that is applicable.
• Assets: This specifies the assets to which the rule is applied. You get the following options to select from:
  • Any: Indicates that the rule applies to all assets.
  • Asset Name: Indicates the asset that is applicable.
• Outcome: This is the outcome of the rule. The outcomes of a transaction can be any one of the following:
  • Reject: Indicates that the transaction will be halted (or frozen if incoming).
  • Accept: Indicates that the transaction will proceed.
  • Approval: Indicates that the transaction requires approval from the dedicated compliance team. Enter the values in the following fields:
    • Team Name: This is the name of the compliance team that is required to approve a transaction.
    • Min Approval: This is the minimum number of approvals required for a transaction.

To understand rule parameters and outcomes, a few examples of the Travel Risk policy are illustrated in the following table. These examples are just for your reference and not a recommendation.

Send rules (for outgoing transactions)

Receive rules (for incoming transactions)