ST. JOHN'S, Newfoundland (10/10/12)--The latest Bank Secrecy Act/anti-money laundering software release from Verafin Inc. includes full support for the Financial Crimes Enforcement Network's (FinCEN's) new Currency Transaction Report (CTR) and Suspicious Activity Report (SAR) forms.
Verafin is a CUNA Strategic Services provider.
The new software, called Fall '12, includes updated CTR and SAR filing functionality to allow customers to e-file the new FinCEN forms. Users are e-filing the new forms with FinCEN six months ahead of the March deadline.
Other updates included in Fall '12 include:
- Expanded remote-banking fraud detection, including corporate automated clearing house and wire transfer analysis;
- Increased risk-assessment functionality; and
- Refined case-management usability and integration.