The Cash Transaction Monitor (CTM) helps you comply with the Bank Secrecy Act and USA PATRIOTS Act.
- Automatically identifies related accounts (for example: husband, wife and wife’s mother).
- Performs an Enhanced Due Diligence (EDD) of customers at the relationship level and assigns a cumulative risk rating.
- Assigns a “next review due date”, based on the results of the EDD analysis.
- Prompts you when it’s time to again review a customer.
- Quickly and efficiently analyzes commercial accounts for unusual activity, as required for Beneficial Ownership compliance.
And that’s not all
- On a daily basis, you can quickly identify all aggregate cash transactions that require CTRs.
- Provides easy electronic filing of CTRs, SARs and DOEPs.
- Performs 314(a) checks and keeps the results for the required five years.
- Reminds you when daily/biweekly or monthly tasks have not yet been completed.
- Automates the Enhanced Due Diligence process and clearly documents the derived results.
- Automates the review for unusual activity, as required for Beneficial Ownership.
- Automates the creation of CTRs and SARs. Eliminates the need to store and manage the FinCEN pdf files.
- Alerts you to structuring and laundering transactions.
- Gives you access to unlimited free training.
- And, unlimited access to Wayne Barnett (one of the best BSA consultants you’ll ever meet).