FinCEN 314a Option


AML Software

FinCEN 314a Module–Optional with SURETY-Behavioral Monitoring

Users of SURETY-Behavioral Monitoring either as a stand-alone application or as part of SURETY Eco may also choose to add AML Partners’ FinCEN 314a subpoena-search option (applicable to banks operating in the U.S.) Integrating this key U.S. regulatory requirement provides yet another avenue for Compliance Professionals to boost effectiveness and efficiency with SURETY Eco or SURETY’s optional stand-alone transaction monitoring application for BSA/AML Compliance.

According to FinCEN, Section 314a of the USA PATRIOT Act (2001) provides for the receiving of “requests from law enforcement and upon review, sends notifications to designated contacts within financial institutions across the country once every two weeks informing them new information has been made available via a secure Internet web site. The requests contain subject and business names, addresses, and as much identifying data as possible to assist the financial industry in searching their records. The financial institutions must query their records for data matches, including accounts maintained by the named subject during the preceding 12 months and transactions conducted within the last 6 months.”

In order to help AML Compliance Professionals meet this requirement, SURETY’s FinCEN 314a module provides a fully integrated FinCEN 314a subpoena-search system that conducts fully encrypted workflow-based fuzzy-logic searches of the two FinCEN lists. Data is fully encrypted from the time authorized users upload each FinCEN list. Only those two individuals registered in FinCEN and registered in SURETY-Behavioral Monitoring (or the SURETY Eco BSA/AML software ecosystem) may see any of the data, determine whether there are false positives, or grab the transactions for true hits.

SURETY-Behavioral Monitoring and the optional 314a module are available as stand-alone applications or as a part of SURETY Eco, the end-to-end BSA/AML software ecosystem.

To learn more about SURETY-Behavioral Monitoring with optional 314a and the entire SURETY Eco approach to end-to-end BSA/AML Compliance, contact us today for more information and to schedule an on-site or web-based demonstration.