Over AML Compliance Program Binder takes the hassle of creating one out of your hands. It contains the following:
QuickCheck makes it ease to automatically store all relevant customer and transaction information. This includes the following:
QuickCheck check cashing compliance solution contains exclusive features that provide allow you to avoid cashing checks that are going to require file SAR and/or CTR reports. Before you cash any check that will cause the SAR or CTR limits to be exceeded, the system will give your employees a warning. This way, you can decide not to cash the check at that time. If you decide to continue to cash the check, the transaction will be automatically logged for SAR/CTR reporting.
Office of Foreign Assets Control (OFAC) compliance is one of the most difficult elements of cashing payroll checks. QuickCheck makes it easy by automatically checking each company and customer against the SDN list published by the government. The check cashing compliance solution also logs all verifications to make it easier for you to prove compliance during audits.
The hardest part of filing SAR and CTRs is identifying customers and transactions that need to be reported. QuickCheck simplifies this task by generating detailed logs of all transactions that exceed the pre-defined limits. Simply print the log and file a SAR and/or CTR report for each customer on the list.
Many states require you to maintain front and back check images or to maintain commission charged logs or net checks cashed logs. Some states even require you to submit lists of all customers who cashed checks worth more than certain amount in a year. QuickCheck makes it very easy to generate all these reports whenever you like.