Suspicious Activity Monitoring Solutions

Accuity’s Suspicious Activity Monitoring Solutions monitor all your transactions for effortless due diligence and hassle-free compliance. These innovative solutions provide real-time and batch data screening to facilitate anti-money laundering risk assessment, transaction monitoring and suspicious activity reporting.

The Bank Secrecy Act (BSA) was one of the first laws the U.S. government used to fight drug trafficking, money laundering and other crimes. Congress enacted the BSA to prevent banks and other financial institutions from inadvertently assisting or intentionally hiding the transfer or deposit of money derived from criminal activity. Consequences associated with illegal activity have been rapidly increasing—even if the offensive act was unintentional—making compliance high on the list of priorities for financial institutions.

To comply with the Bank Secrecy Act and other government regulations, your financial institution must monitor transactions for fraudulent activity such as criminal enterprise, terrorism, tax evasion or other unlawful actions and keep records of your financial transactions.

The retention and reporting of records to fulfill the requirements of the BSA regulations has never been more important to impede illegal activities. Record and document retention, along with suspicious activity reporting, help law enforcement deter illegal activity and provides a means to trace movements of money through the financial system.

Financial institutions face strict penalties for failing to file or incorrectly filing CTR reports including heavy fines and regulatory restrictions—which could eventually lead to charter revocation. Accuity’s Suspicious Activity Monitoring Solutions effectively monitor customer transactions on a daily basis and provide a simple and easy-to-use platform for abiding by government regulations.

Protect your organization with these easy-to-use and easy-to-install transaction-monitoring solutions for any size financial institution:

• Currency Reporting Control (CRC) System^® —Accuity’s CRC System centralizes and automates data collection for all cash transactions allowing users to monitor transactions for BSA currency transaction reports.
• Suspicious Activity Reporting Control (SARC) System—Accuity’s SARC System is an automated batch submission solution that allows users to enter their Suspicious Activity Reports (SARs) into a centralized database and then upload them to the Bank Secrecy Act (BSA) E-Filing System using the government-approved format.
• Wire Transfer Control (WTC) System^®—Accuity’s WTC System is an automated record keeping solution that accepts import files of incoming and outgoing FedLine or FedAdvantage files and files them according to BSA standards.