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January 6, 2015
Business Accounts Documentation and Procedures with Beneficial Ownership
Deborah Crawford

January 6, 2015
FFIEC Cybersecurity Initiatives and Observations from the 2014 Assessments
Susan Orr

January 15, 2015
The ABC's of IRAs - The Basic Ingredients
Patrice Konarik

January 20, 2015
B & Z Appraisal Rules - Getting Them Right
Jack Holzknecht

January 21, 2015
HMDA Soup to Nuts
David Dickinson

January 22, 2015
Navigating the Treacherous Waters of IRA Rollovers, Transfers and Beneficiary Payouts
Patrice Konarik

January 28, 2015
Mortgage Life Cycle
Part I
David Dickinson and Jerod Moyer



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#172112 - 03/22/04 03:09 PM FinCEN SAR Software Version 5.1
MackenzieS Offline
Diamond Poster

Registered: 07/08/02
Posts: 1722
Loc: Oklahoma
Have any of you downloaded this software for processing SARs? The directions on the website state that you have to apply for a Transmittal Code Number from the Detroit Processing Center before you install the software.

I have a couple of questions, first - do you have to call and obtain this information or do you have to print and fax the "Application for Magnetic Media Reporting of Suspicious Activity Reports"? My next question is - if you have to file through a diskette where is the benefit? To me it is easier to type the report, print, and mail it.

I hope someone can shed some light on this. Has anyone heard if FinCEN ever intends to create a secure site where we can file reports via the internet and do away with diskettes and paper?

Here is the site in case anyone else is interested: FinCEN

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BSA/AML/CIP/OFAC
#172113 - 03/22/04 03:52 PM Re: FinCEN SAR Software Version 5.1
BooBoo Offline
Member

Registered: 02/19/03
Posts: 61
Loc: KC, MO
Print and fax the form to get the code assigned to your bank. We use the software to prepare the SAR, but print and mail it rather than sending the diskette (we only do about 6-8 SARs a year).
_________________________
Please take all comments with a grain of salt (preferably on the outside of a margarita glass).

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#172114 - 03/22/04 03:56 PM Re: FinCEN SAR Software Version 5.1
To Do or Not To Offline
Gold Star

Registered: 02/01/02
Posts: 440
Loc: USA
We send by diskette. I've only been in this department three years. The code was here when I took over this job. We only send 6-8 per year. Things happen in multiples so I usually have two to send at a time.

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#172115 - 03/22/04 04:18 PM Re: FinCEN SAR Software Version 5.1
MackenzieS Offline
Diamond Poster

Registered: 07/08/02
Posts: 1722
Loc: Oklahoma
Quote:

We send by diskette. I've only been in this department three years. The code was here when I took over this job. We only send 6-8 per year. Things happen in multiples so I usually have two to send at a time.




Do you send a diskette or print and mail too?

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#172116 - 03/23/04 09:10 AM Re: FinCEN SAR Software Version 5.1
John Burnett Offline
10K Club

Registered: 10/27/00
Posts: 30979
Loc: Cape Cod
We use the software to enter our SAR information. We print a file copy of the SAR, but submit to FinCEN via diskette. The software provides a convenient template for creating the SAR itself; we believe that sending the diskette provides for speedier entry of the data into the SAR database, with no transcription errors (other than those we might have made at our end).
_________________________
John S Burnett
BankersOnline.com

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