Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Verafin redesigns CTR SAR modules
ST. JOHN'S, Newfoundland (5/8/12)--Verafin Inc., a provider of fraud detection and anti-money laundering software, has redesigned its Currency Transaction Reporting (CTR) and Suspicious Activity Reporting (SAR) modules to support the Financial Crimes Enforcement Network's (FinCEN) updated reporting requirements.

Verafin is a CUNA Strategic Services provider.

It also updated some features of the modules to improve the user experience, the company said.

With updated e-filing requirements coming into effect in July 2012 and a March 2013 deadline for the new report formats, Verafin has completed successful submissions to the FinCEN test site.

"Our approach has always been to help our customers stay a step ahead of both regulatory requirements and the latest trends in financial crime," said Rob Norris, Verafin product management director. "From recent advances in our software such as automated Common Point of Compromise detection and online banking fraud detection to having our customers ready for the updated CTR and SAR e-filing requirements, we always push to ensure our software meets our customers' needs."

Verafin also improved reporting features to enhance ease-of-use and user efficiency, the company said.

The company is offering a free webinar demonstrating the updated features at 12:30 p.m. (ET) May 16. To register, use the link.

Verafin also announced it had surpassed more than 800 customers.
Other Resources

RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
13 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
14 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
15 hours ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
15 hours ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
16 hours ago