Premium Products / Personal Service
Cash Transaction Monitor
CTM simplifies and automates your BSA/AML compliance obligations.
On a daily basis, you can quickly identify all aggregate cash transactions that require CTRs.
The system automatically aggregates transactions for related accounts (such as husband, wife and wife’s mother).
On a monthly basis, you can quickly identify unusual/high-risk activity.
The system uses data from the prior year, to predict what a customer’s transactions will be this year.
We use a default growth-factor of 20%, when predicting current transactions. (You can chose a different growth factor.)
Customers with transactions that exceed expectations have a “positive risk finding” (PRF).
In looking for PRFs, we examine all data for the prior six months. The more PRFs a customer has, the higher the calculated risk rating.
In total, for all types of transactions, we look for PRFs 63 different ways.
We recommend that commercial customers be considered high risk when they have 7 PRFs.
For consumer customers, we recommend a high risk designation when they hit 5.
And that’s not all!
CTM automates the creation of CTRs and SARs.
CTRs, SARs and DOEPs are electronically filed, used FinCEN’s Electronic Batch Filing Protocol.
Our batch filing procedure eliminates the need to store and manage the FinCEN pdf files.
The system alerts you to structuring and laundering transactions.
It performs 314(a) checks and keeps the results for the required five years.
CTM can be used to record Monetary Instrument Purchases (MIP).
MIPs are include in the risk analysis procedure–even when done for non-customers.
And, most importantly, the system dashboard reminds you what has been done, how much time was spent doing the recommended tasks, and, what still needs to be done.
Automates the Enhanced Due Diligence process and clearly documents the derived results.
Automates the generation of CTRs and SARs.
Gives you access to unlimited free training.
No limit on the number of users.
And, unlimited access to Wayne Barnett (one of the best BSA consultants you’ll ever meet).