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Verafin release supports new CTR SAR forms

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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.