How does the module work?
Input
- FinCEN 314(a) list
- Suspect details
Process
- Role-based user access to ensure confidentiality
- Record search for accounts and transactions
- Auto-initiate screening
- Work status dashboards
Output
- Audit trails for all user actions
- Robust reports
The traditional method of 314(a) reporting is harming you
Manual is erroneous
Risks creeping in while handling large data and patterns might be missed when being done within a limited time.
Transaction complexity and identity manipulation
Sophisticated criminals maneuver transactions to avoid detection which makes the manual investigation process tiresome.
Your time and expertise are better spent elsewhere
The time-consuming process of manually checking accounts and transaction records to find a match is frankly better left to be done by machines.
Dedicated workflow specifically for managing 314a process
Role-based user access to ensure confidentiality and security
Easy upload of both personal and business lists and auto initiate or schedule screening against customer and transactional data
Leverages screening module screening fuzzy/phonetic logic and threshold management parameters
Full audit trails for all user actions
Robust reports and built-in user workbenches with work status dashboards
Benefits
Extremely confidential investigation
Role-based access to account information and transactional data ensures the security of data. Velocity provides unmatched confidentiality so that you can rest easy while reporting to FinCEN.
Increased speed in account screening
Using fuzzy/phonetic logic and threshold management parameters, Velocity can screen large sets of data within a few minutes to promptly obtain critical data.
Ease of monitoring
Built-in user workbench and status dashboards enable higher management to keep track of each 314 requests. You will never miss a beat while addressing any requests from FinCEN.