Systems, methods, and devices of the various aspects enable identification of anomalous application behavior by monitoring memory accesses by an application running on a computing device. In various aspects, a level of memory access monitoring may be based on a risk level of an application running on the computing device. The risk level may be determined based on memory address accesses of the application monitored by an address monitoring unit of one or more selected memory hierarchy layers of the computing device. The memory hierarchy layers selected for monitoring for memory address accesses of the application may be based on the determined risk level of the application. Selected memory hierarchy layers may be monitored by enabling one or more address monitoring units (AMUs) associated with the selected one or more memory hierarchy layers. The enabling of selected AMUs may be accomplished by an AMU selection module.