News

01:07 PM
Kristie Cattafi
Kristie Cattafi
News
Connect Directly
RSS
E-Mail
50%
50%

Accuity Releases Suspicious Activity Reporting Control System

Accuity, a provider of payment routing data, AML screening software and services, has added the Suspicious Activity Reporting Control (SARC) System to its suite of compliance solutions, enabling financial institutions to manage the filing of Suspicious Activity Reports (SARs).

The SARC System is an automated batch submission solution that allows financial institutions to enter their SARs into a centralized database and then upload them to the Bank Secrecy Act (BSA) E-Filing System using the government-approved format. The system then retains the SAR forms for retrieval during audits or internal periodic reviews. A built-in reminder function alerts users as to when filing or re-filing should occur. To further reduce reporting errors, all SAR forms created within the SARC System undergo an automated editing process before they are filed.

The SARC System works either as a stand-alone product or in conjunction with Accuity's Currency Reporting Control (CRC) System to help provide an integrated platform for anti-money laundering processes.

Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology - August 2014
Modern core systems are emerging as the foundations of effective channel integration and customer engagement initiatives.
Slideshows
Video