“There is growing concern in the regulatory environment regarding the detection of cash related activity performed by an individual on their primary account and then subsequent activity on accounts on which they are not the primary but hold a joint ownership. This tool is designed to uncover those events and many more by virtue of its robust analytical capabilities.”
– Jim Vilker, VP of Professional Services with AuditLink
The BSA/SAR Structuring Report provides a more comprehensive and detailed analysis of smaller denomination cash transactions that would normally fall below the standard range for BSA monitoring, to help your auditors look for signs of structuring or other suspicious activity. It uses a separate file from the other BSA report (SARDETAIL) and is organized not only by primary member but by joint owners as well. The report can be organized according to:
- Who did the transaction (which SSN/TIN): Sort and stack transactions based on the SSN of the person, looking at what one person does across multiple accounts. This is based on the person served if you use the Currently Serving feature.
- Which membership had the activity (which account base): Sort and stack transactions based on the account base of the membership, looking to see if multiple people did something on the same account.
- What this person owns, across multiple memberships (including joint relationships): Sort and stack transactions by SSN/TIN; include all activity done by anyone on all accounts where this SSN/TIN is listed as an owner (whether primary or joint), looking for someone trying to hide activity by spreading it across multiple memberships that they own.
For more information on CU*BASE Tool #1990: Print BSA/SAR Structuring Report, click the button below!