BSA Reporter - AML On-Line by CubeIQ Limited

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BSA Reporter

The Products

BSA Reporter detects, analyzes and reports suspicious transaction activity that may be present, utilizing a powerful rules engine and customer profiling techniques.

Highlights:

  • Maintains and monitors compliance details for each customer.

  • Uses comprehensive rules-based tools, risk classes and both individual and peer-group profiling to evaluate customers.

  • Profiles can be created dynamically by the organization by use of historical data.

  • High-performance relational database providing the ability to capture, record and monitor all transactional activity in detecting potential suspicious activity.

  • Sophisticated and extensible reporting capabilities, including the use of industry standard reporting tools such as Crystal reports.

  • Enterprise-wide filtering of all business systems.

  • Security rights and controls are customizable to the organization.


Please select a link for more information on BSA Reporter:
Customer and Account Relationships
Risk Classes
Profiling
Activity Warehousing
Queries
Suspicious Activity
Reporting
Enterprise Integration
Security and Audit Trails





Customer and Account Relationships
Employing powerful relational database technology, BSA Reporter's customer and account relationship management facilitates Know-Your-Customer policy implementation. Prime's system allows for customers to own multiple accounts and for accounts to have multiple owners. Prime also maintains many details about each account and customer, including:

  • Description of the customer's business;

  • Source of funds;

  • Exemption Status;

  • Compliance office details; and much more



Risk Classes
BSA Reporter allows financial institutions to classify customers into Risk Classes. These classes, in turn, may be assigned different rules and tolerances for use in evaluating suspicious activity. Tolerances can be as simple as high, medium or low risk or can be customized to match elaborate categorizations established by company policy.


Profiling
Determining potential suspicious activity requires establishing a baseline of legitimate business activity for each customer. BSA Reporter accomplishes this task with Customer Profiles, which capture the normal activity for legitimate customer transactions.

Profiles:

  • may be based on multiple recurrence periods to adapt to seasonality;

  • properly segregate and track cash transactions from non-cash transactions, complying with government mandates;

  • may be established for specific accounts and activity types, allowing organizations to choose the appropriate level of granularity on a customer-by-customer basis;

  • can specify the countries with which a customer normally does business;

  • may be entered by an organization or can be derived from a historical analysis of customers' activity (this automatic profile generation can be made subject to a review process)

To properly describe their various business activities, a customer may have multiple profiles assigned to him/her.


Activity Warehousing
After establishing customer and account relationships and deriving appropriate profiles, detecting suspicious activity requires capturing transaction information. Via a high-performance relational database architecture, BSA Reporter captures every transaction entered by a financial institution, regardless of the banking application, hardware platform, or branch affiliation.


Queries
Reviewing suspicious activity requires a sophisticated, flexible searching tool, accommodated in BSA Reporter by Query Plus. Transactions, customers, events, profiles, and suspicious activities may be searched using three methods:

  • Parameter Based Query, which allows searching across a wide range of parameters;

  • Natural Language Query, which supports searching using common sentences and phrases; and,

  • SQL Query, which allows staff members with an appropriate technical background the full power of the SQL language



Suspicious Activity
BSA Reporter uses Customer and Account relationships and Profiles together with daily activity received from the organization’s business systems to identify and highlight suspicious activity, or any activity that is outside the norm and tolerance for a customer.

Suspicious activity is presented to the compliance officer as a case. Through a review process, compliance officers and account officers can collaborate, via integrated e-mail facilities, to reach a final determination regarding the validity of the reported suspicious activity.

All Cases are recorded in a long-term archive after final review. They may be called up at any time to assist in the evaluation of a current case.


Reporting
BSA Reporter provides sophisticated and extensible reporting capabilities to manage the compliance process and evaluate suspicious activity. BSA Reporter provides the following types of reports:

  • SAR and CTR (generated automatically by BSA Reporter)

  • Analytical

  • Audit

  • Daily and,

  • Static



Enterprise Integration
BSA Reporter was designed to provide both a single branch as well as an enterprise-wide solution to the issues related to the Bank Secrecy Act. Its data warehouse may segment transactions by branch and department allowing a single solution for multiple organizational branches. BSA Reporter’s security system allows decentralized access to Transaction Records, Customers, Accounts, Profiles, and Cases based on the ownership of the record while allowing centralized control over compliance policy.



Security and Audit Trails

A separate security system controls all access to the functions in BSA Reporter, enabling a security manager with appropriate rights to create operators and assign processing rights.

Rights issued to an operator also specify a “Scope”. Scope allows the security manager to determine precisely which records an operator is allowed to access. Access can be restricted to specific branches, departments within a branch, as well as to records owned by a particular operator.

Attempted program access, both failed and successful, is recorded to the security database. Additionally, all processing performed within BSA Reporter is recorded to an Events log. Events can be reported in multiple ways and are displayed for both the entire system as well as for specific records.


AML On-Line by CubeIQ Ltd. :: www.cubeiq.gr

 
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