Features

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.