Currency Transaction Reporting (CTR) | Wolters Kluwer Financial Services OneSumX
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OneSumX for Currency Transaction Reporting

  • Increased regulatory scrutiny and actions have moved BSA/AML compliance to the forefront-CTR compliance in particular. Failure to comply can, unfortunately, impact your financial institution's strategic growth plan and reputation.

    OneSumX for Currency Transaction Reporting (CTR) is specifically designed to meet the growing demands of regulators for CTR compliance, supporting, for example, complex aggregation logic for daily currency transactions. It also streamlines operations for back office BSA personnel to enable greater productivity.

    Functionalities include:

    • Rigorous controls for BSA compliance and operational (fraud) risk: An integral part of the platform, it provides a key perspective into customer activity to help you holistically manage the risk of financial crime.
    • Investigative insight: Maintains customer 'webs (based on account relationships) and presents these relationships to analysts so that they have an insight into this aggregate activity, and even potential criminal rings.
    • Case management tools for investigative depth and efficiency: Streamlines operations through the integration into the platform's case management module. In addition, cash activity and CTR history can be shared (via the customer record), providing AML analysts a panoramic view of customer activity as part of dispositioning any suspicious activity (i.e. alerts) tied to a customer.
    • Reliability and scalability across the organization: The functionality for the front office can be scaled across a handful of branches or hundreds.
    • Innovative and user-friendly technology: The CTR back office editor and teller entry user interfaces dramatically simplify the user experience of validating and entering new CTRs.