The Cash Transaction Monitor (CTM) helps you comply with the Bank Secrecy Act and USA PATRIOTS Act.
Features
- 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.
Benefits
- 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).
Pricing
For pricing information click here. All pricing is yearly. All contracts are annual. Try our no-risk, 30-day free trial.