The QuantaVerse Automated Financial Crime Report Addresses New FinCEN Suspicious Activity Report (SAR) Format

QuantaVerse, the first in the market with artificial intelligence (AI) solutions purpose-built for identifying financial crimes, helps financial institutions file timely and accurate suspicious activity reports (SARs) that match FinCEN’s recently revamped SAR filing format in the BSA E-Filing System. The QuantaVerse Financial Crime Report automatically compiles information relevant for filing SARs including content related to FinCEN’s newly recommended fields and categories such as geographic targeting orders, IP address date/timestamping, and new/modified subtype selections associated with structuring, fraud, money laundering, gaming, identification/documentation, securities and mortgage fraud.

“We anticipate that this will reduce by up to 70 percent the time that investigators spend gathering critical facts and summarizing their research to support SAR filings. Our comprehensive Financial Crime Report helps financial institutions’ investigative teams automate data-gathering activities and apply human resources to things they are uniquely qualified for such as intuition and logic,” explained David McLaughlin, CEO and Founder of QuantaVerse. “With our Financial Crime Report, we are elevating the work of investigators to its highest and best use while radically increasing efficiency.

Author: Yash Hirani

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