USA Patriot Act Section 314(a) Compliance

Manage Section 314(a) Compliance with FinCEN List Screens

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) is responsible for a system that allows law enforcement agencies terrorist and money laundering cases to relay targets to financial institutions. The FinCEN list of suspected terrorists and money launderers is sent bi-weekly to financial institutions.

As part of the USA PATRIOT Act Section 314(a), financial institutions are required to conduct a USA PATRIOT Act Section 314 screen against their customer database. For any matches, it is necessary for institutions to notify FinCEN within two weeks of receiving the FinCEN list.

In today’s fast paced world of financial institutions, it can be a difficult effort to manage the Patriot Act Section 314(a) search request. ID Verification provides a simple, yet comprehensive FinCEN compliance solution to help financial institutions conduct the required USA PATRIOT Act 314 screen. The solution scans the institution’s client database against the 314(a) list and delivers an instant pass or fail response. For any potential hits, ID Verification provides alternative reporting information, offers direction to resolve any discrepancies and documents that the institution conducted the search for future audits.

We invite you to learn more about our Patriot Act Section 314 solution including FinCEN list screens. Find out how ID Verification can benefit your financial institutionwatching a product demonstration , attending an upcoming web seminar or sign up for a free trial.

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