Anti-Money Laundering, Suspicious Activity Reporting, Bank Secrecy Act Workflow APP
AML SAR Filing / BSA Reporting App (ASBA) is a critical risk management and AML compliance tool for businesses at risk of being victimized by money laundering. Detecting and reporting potential money laundering incident are critical business requirements for firms engaged in financial transactions. All financial services firms are required to administer an AML compliance program. Failure to do so could result in fines imposed by regulatory agencies. Failure to detect money laundering transactions poses significant reputational risk that can lead to significant monetary fines, business closure and imprisonment.
The AML SAR Filing / BSA Reporting App offers a rules based compliance tool addressing government reporting guidelines, filing procedures and requisite FinCEN links to assure expeditious filing with enforcement agencies.
Full filing instructions and links to FinCEN SAR Reporting, CTR, CMIR, FBAR and Certification for Correspondent Bank Reporting and other valuable AML compliance resources are explained and integrated into this work flow app to mitigate the threat of money laundering incidents.
Intro to SAR Filing and BSA Reporting Instructions on FinCEN Registration FinCEN Registration Link FinCEN Forms Library High Risk Accounts SAR Scorecard SAR Investigation Report
Instructions and links to file: All SAR Reporting Types Including MSB, Credit Unions, Security Brokers, Casinos, Jewelers Currency Transaction Reports (CTR) Foreign Bank and Financial Accounts (FBAR) Certification for Correspondent Banks Currency and Monetary Instrument transactions (CMIR) Travel Rule Compliance OFAC Search / Emergency Notification
ASBA Users: Credit Unions Money Service Business Jewelers Casinos Car Dealerships Banks Alternative Lenders Hedge Funds Broker Dealers RIA's CTA/CPO Correspondent Banks Fund Administrators
Sum2 also offers a full complement of AML compliance products to address regulatory compliance requirements.