Ragini Communications Inc.
Suspicious Activity Reporting (SAR) Solution   

Suspicious Activity must be identified & reported to proper authorities. Once the Suspicious Activity Report (SAR) is filed, firms must further make an effort to track the follow-up tasks as may be required.


RCI's Suspicious Activity Reporting (SAR) Solution Satisfy FinCEN regulatory reporting for Suspicious Activity Reporting, Currency Transaction Report, and Designation of Exempt Persons with key benefits:

  • Identify, track & monitor suspicious activity.

  • Create SAR, 105, 99-22.1, CTR, DOEP forms.

  • Archive documentary evidence for Suspicious Activity.

  • Electronically file SAR, CTR, and DOEP to FinCEN.

  • Track post filing activities & evidence for CTR, SAR, and DOEP.

Challenge

Suspicious Activities create the following challenges:

  • To identify transaction details that appear to be fraudulent, and the details of individuals conducting such transactions.

  • To document and track suspicious activity and if necessary file the SAR report.

  • Review by financial investigators, management and attorneys prior to filing.

  • Identify, Track and Monitor the progress of Suspicious Activity report filing with FinCEN.



Solution

Key Capabilities

  • Operates in Mission Critical & High Transaction Volume Environments.

  • Detects Fraudulent behavior early in the cycle and proactively discovers Fraud.

  • Leverage best practices fraudulent activity with pre-defined scenarios, workflow and reports.

  • Improve the quality of alerts and optimize the use of scarce resources.

  • Work flow Tools to manage identified cases.

  • Ensure compliance with security and risk polices.


RCI's Suspicious Activity Reporting (SAR) provides sophisticated and extensible reporting capabilities to manage the SAR Filing process and Track your filings.

SAR provides you with product to detect, investigate and better manage fraudulent activities whilst proactively reducing your exposure to fraud. This increases the efficiencies by optimizing the use of scarce detection and prevention (risk and security) resources.


Benefits
  • Avoidance of large penalties and fines for the company and it's senior management.

  • Reduced business risk and greater financial predictability.

  • Comply with regulatory requirements.

  • Improved corporate transparency and increased shareholder confidence.




Features

Category Feature
Predefined Rules CTR - Predefined Rule - Cash Only Transactions above $10,000
  SAR - Predefined Rule - Transactions of $5000 or more with suspect identified using Alias
  SAR - Predefined Rule - Transactions of $5000 or more with suspect identified using Prior Fraud
  SAR - Predefined Rule - Transactions of $5000 or more with Prior Fraud - appearing on Watch List
  SAR - Predefined Rule - Transactions of $25000 or more with suspect identified or not
  SAR - Predefined Rule - Suspect is a Director or Committee Member
  SAR - Predefined Rule - High Risk Jurisdiction Countries
  SAR - Predefined Rule - Transactions of $25000 or more with a No Purpose Identified
  SAR - Predefined Rule - No Business Purpose Identified (for Entities)
  SAR - Predefined Rule - Unknown Source of Funds
  SAR - Predefined Rule - Structuring
  SAR - Predefined Rule - Check Kiting Rule - Deposits and Withdrawals over $10,000 within 5 days
  Overnight Rules Scheduler
 
Alert Manager View Alerts Generated
  View Transaction History
  Log Discovery Evidence
  Convert Alert to Case
 
Watch List Screening OFAC - ALT
  OFAC - SDN
  OFAC - Add
  FBI Crime Alert
  FBI Kidnappings and Missing Persons List
  FBI Unknown Robbers List
  FBI Cyber Crime List
  FBI Most Wanted Fugitives List
  FBI Recently Televised Sexual Predators List
  FBI Crime Against Children List
  FBI War On Terrorism List
  FBI Additional Violent Crimes List
  FBI Domestic Terrorism List
  FBI Parental Kidnapping List
  FBI Seeking Information List
  FBI Violent Crimes (Murder) List
  FBI White Collar Crimes List
  Central Intelligence Agency (CIA) Chief of State File
  United States Marshals List
  Department of Trade Controls Debarred Parties File
  OCC Unauthorized Offshore Shell Banks Lists
 
Case Manager View Case Details
  Evidence Archieve
 
E-file Create Batch
  File SAR, CTR, DOEP
  Integrated Responce from FinCEN
 
Data Load Daily Customer Load
  Daily Transaction Load
 
Other Compliance news
  Customer Complaints
  Memo & Notices
  System Status
  Administrative Rules
  User Action Auditing
Agency Compliance

(1) Financial Crimes Enforcement Network (FinCEN)
http://www.fincen.gov


For FinCEN compliance, data for use by the following will be generated:
  • FinCEN SAR

  • FinCEN CTR

  • FinCEN DOEP

  • FinCEN Form 105

  • FinCEN Form 90-22.1

(2) National Credit Union Administration (NCUA)
http://www.ncua.gov/


Reports
Data Warehouse provides enhanced reporting. Key out of box report includes:

Alert / SAR Reports

Title
Alerts in Progress
Overdue Alerts
Alerts Dismissed
SAR In Progress
SAR Generated
List of SAR (Manual)
Predefined Rules
List of Insiders
Cash & Internet Txn. Alerts
ETL - Data Loaded
List by Transaction Type
List of Safe List Accounts
Forms Created for Case
Datewise Transaction Record Summary
List of Exempt Accounts

e-File Reports

Title
Form Pending to be Transmitted
Forms Transmitted to FinCEN
Forms Rejected
Notification To Board

Risk Reporter

Title
Report Book
Create New Report Page
Draft/Presentation Reports
View / Copy / Edit Rule
Configure New Rule
Report Scheduler
Report Settings

Process & Data Approach


Active Alerts

View all active alerts generated by the system.


Finalize Alert Research

This Feature lets you decide whether to discard an alert or convert it to case for further research.


Create Case for exceptions

View all active cases in the system. You can add SAR, CTR, DOEP, CMIR 105 AND FBAR 90-221 forms to each case from this screen.


Validate FinCEN Forms - Currency Transaction Report (CTR)

Case Manager lets you create a CTR (Form # 104) for cash transaction(s) above $10,000, integrate alert details automatically into default CTR, generate CTR PDF for Depository Institutions, save & print form as well as transmit the completed form to FinCEN.


File with FinCEN

Our Solution gives you ability to transmit completed CTR, DOEP or SAR batch to FinCEN. You can also manage FinCEN responses and follow-up from this screen.


Follow-up With FinCEN for queries

FinCEN Follow-up module lets you interact with FinCEN if you have any queries in FinCEN response for previous submission of SAR / CTR or DOEP.


SAR Solution Reports

Alert / SAR Reports
  • Alerts in Progress

  • Overdue Alerts

  • Alerts Dismissed

  • SAR In Progress

  • SAR Generated

  • List of SAR (Manual)

  • Predefined Rules

  • List of Insiders

  • Cash & Internet Txn. Alerts

  • ETL - Data Loaded

  • List by Transaction Type

  • List of Safe List Accounts

  • Forms Created for Case

  • Datewise Transaction Record Summary

  • List of Exempt Accounts


e-File Reports
  • Form Pending to be Transmitted

  • Forms Transmitted to FinCEN

  • Forms Rejected

  • Notification To Board


Risk Reporter
  • Report Book

  • Create New Report Page

  • Draft/Presentation Reports

  • View / Copy / Edit Rule

  • Configure New Rule

  • Report Scheduler


 

Summary of Audit Per Application

 

Suspicious Activity Report | Report Suspicious Activity | SAR | Electronic Filing | SAR Filing | OFAC SDN | OFAC | eFile | OFAC Regulations |Compliance Software | OFAC Software | SAR Software | 404 Compliance | Thrifts | Regulatory Compliance | Brokerages | Insurance Companies | Credit Unions | Money Service Business | Futures Merchants | Mortgage Companies | Mortgage Brokers | Mortgage Lenders | Banks | Mortgage Originators| Mutual Funds | Card Clubs | Casinos | Data Processors | Bank Software | Casinos and Mortgage Brokers | Credit Union Software | Compliance Software | Brokerage Software

Copyright Ragini Communications Inc. 1996 -

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