Law enforcement agencies investigating financial crime activities can request FinCEN to solicit information regarding individuals, entities, or organizations. Velocity 314(a) list screening workflow provides a faster, highly secured, and end-to-end automated platform to yield accurate results. With its revolutionizing use of fuzzy/phonetic logic and threshold management parameters, the Velocity 314(a) module has made the process of screening extremely seamless and effective.

Input:
  • FinCEN 314(a) list
  • Suspect details
Process:
  • Role-based user access to ensure confidentiality
  • Record search for accounts and transactions
  • Auto-initiate screening
  • Work status dashboards
Output:
  • Audit trails for all user actions
  • Robust reports
The traditional method of 314(a) reporting is harming you
  • Manual is erroneous Risks creeping in while handling large data and patterns might be missed when being done within a limited time.

  • Transaction complexity and identity manipulation Sophisticated criminals maneuver transactions to avoid detection which makes the manual investigation process tiresome.

  • Your time and expertise are better spent elsewhere The time-consuming process of manually checking accounts and transaction records to find a match is frankly better left to be done by machines.

Dedicated workflow specifically for managing 314a process

  • Role-based user access to ensure confidentiality and security

  • Easy upload of both personal and business lists and auto initiate or schedule screening against customer and transactional data

  • Leverages screening module screening fuzzy/phonetic logic and threshold management parameters

  • Full audit trails for all user actions

  • Robust reports and built-in user workbenches with work status dashboards

Benefits

  • Extremely confidential investigation

    Role-based access to account information and transactional data ensures the security of data. Velocity provides unmatched confidentiality so that you can rest easy while reporting to FinCEN.

  • Increased speed in account screening

    Using fuzzy/phonetic logic and threshold management parameters, Velocity can screen large sets of data within a few minutes to promptly obtain critical data.

  • Ease of monitoring

    Built-in user workbench and status dashboards enable higher management to keep track of each 314 requests. You will never miss a beat while addressing any requests from FinCEN.




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