FinCEN Compliance

FinCEN 314(a) authorizes the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) to solicit and obtain information from financial institutions for any requesting law enforcement agency investigating terrorist activity or money laundering. If your institution is contacted by FinCEN to provide an information request, you are required to:

• Search all records to look for potential matches on the FinCEN list
• Search any transactions conducted outside of the account during the preceding six months
• Provide information to FinCEN within two weeks
• Provide a report to FinCEN if you do find a match

With these time sensitive tasks along with the remainder of your compliance responsibilities, how do you keep up with the demands of cross checking current and previous accounts within the two week deadline? What kind of reports will you need to create? What kind of tracking system/audit trail will you need to have in place to remain compliant with the USA PATRIOT Act?

FinCEN 314(a) Software

Simplify the process of fulfilling FinCEN requests for customer and account information under Section 314(a) of the USA PATRIOT Act with an automated software that will keep you compliant.

Our WatchDOG® Pro suite of products:

• Allows you to run searches as an individual look up or as a batch process running through all records
• Eliminates false positives through advanced search technology
• Provide a comprehensive audit trail through transaction and match reports
• Proves your institution is compliant through a processing log

For your FinCEN and all your watch-list checking needs, use a cost-effective software solution that eases the burden—WatchDOG® Pro.