Feature Sheet

Suspicious Activity Reporting

Simplify your SAR Process: Create, E-File and Track Regulatory Reports to Increase Efficiency and Confidence

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Suspicious Activity Reports (SARs) are a necessary part of compliance programs for all financial institutions; however, the tasks associated with regulatory reporting are often tedious and time consuming.

Verafin’s Financial Crime Management platform brings increased efficiency and confidence to the regulatory reporting process by helping you automate tasks associated with generating, completing, and filing reports, as well as providing visual tools to track, manage, and improve your team’s suspicious activity investigation and reporting processes.

Features of Verafin’s SAR solution include:

  • Pre-Populated SAR Fields. Verafin automatically completes all data fields when your report is generated and alerts you if required information is missing.
  • One Click E-Filing. Queue your completed SAR with the click of a button, for automated e-filing direct to FinCEN.
  • Integrated Case Management. Generate a SAR directly from an investigative case that includes applicable files, related evidence, linked entities and related suspicious activity.
  • SAR Workflows. See the status of your reports, from incomplete to accepted by FinCEN, in a single, centralized location.
  • Reporting Charts. Analyze your reporting history from multiple viewpoints, with visual charts and dashboards that help you explore SAR-related filings, cases and alerts.

Tagged as...

  •   BSA/AML Compliance
  •   FRAML
  •   SARs

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