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Suspicious Activity Reporting (SAR) Solution
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Suspicious Activity must be identified & reported to proper
authorities. Once the Suspicious Activity Report
(SAR) is filed, firms must
further make an effort to track the follow-up tasks as may
be required. |
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Challenge |
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Suspicious Activities create the
following challenges: |
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To
identify transaction details
that appear to be fraudulent, and the details of
individuals conducting such transactions |
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* To
document and track suspicious activity and if
necessary file the SAR report |
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Review
by financial investigators, management and attorneys
prior to filing |
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Identify, Track and Monitor the progress of
Suspicious Activity report filing with FINCEN |
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Solution |
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To meet the
above challenges, our
Suspicious Activity Reporting Software provides
you the ability to create a Suspicious Activity
Report (SAR). Customer and his suspicious transaction activities
are logged. SAR can be printed in a pdf format.
You can electronically file the completed SAR to FINCEN
using the eFile feature.
Once the SAR is
electronically filed you can further track the follow-up
activities with FINCEN using this software. |
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Benefits |
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Avoidance of large
penalties and fines for the company and it's senior
management |
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Reduced business risk
and greater financial predictability |
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Comply with regulatory
requirements |
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Improved
corporate transparency and increased shareholder
confidence |
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Key Capabilities |
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eFile
(Electronically
files SAR)
is a comprehensive electronic filing
mechanism of a SAR case to Detroit Computing Center
(DCC) |
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Case Manager
(Creates
SAR Case)
enables
monitoring of suspicious activity before a SAR is
created |
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eRegulate
(FinCEN
Regulatory Log) -
Once a SAR case is filed, this feature provides
ability to
document all activities related to SAR filed with FinCEN |
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Suspicious
Activity Report | Report Suspicious Activity | SAR | Electronic Filing
| SAR Filing | OFAC SDN | OFAC | eFile | OFAC Regulations |Compliance Software | OFAC Software | SAR Software | 404
Compliance | Regulatory Compliance | Compliance | Banks |
Brokerages | Insurance Companies | Credit Unions | Money
Service Business | Futures Merchants | Thrifts | Mortgage Companies | Mortgage Brokers | Mortgage Lenders | Mortgage Originators| Mutual Funds | Casinos | Card Clubs | Shippers | Receivers | Data Processors | Casinos and Mortgage
Brokers | Bank Software | Brokerage Software | Compliance
Software | Credit Union Software |
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