Regulatory Compliance Management

Organizations determined to balance compliance with competitiveness in the United States must rise to the challenge to understand a host of new regulatory compliance requirements and operate within a complex structure of overlapping federal, state and local statutes. Some industries (such as financial services) will feel the pressure of regulatory reform more acutely, as will those that rely on the practice of conducting transactions with the public.

Companies committed to preserving the status quo with regard to achieving regulatory compliance with new antifraud laws and regulations invite falling revenues and increased exposure to fines, penalties, audits, sanctions, and litigation. These laws require organizations to:

• Verify and identify individuals with whom they conduct many different types of transactions.
• Maintain records of such identification verification procedures for years after the date of the transaction, in a manner that adheres to strict legislative guidelines regarding information privacy and data security.
• File reports associated with a variety of “Red Flag Events” deriving from different types of financial transactions. Examples include Suspicious Activity Reports (SARs) filed with the FBI, money wire-transfer logs which must be provided to the IRS and Currency Transaction Reports (CTRs) required by the FTC and the Secret Service for cash transactions in excess of $1000.

The Identity Authentication Key Objectives: Image Capture, Validation, Authentication

Fraud Fighter™ provides innovative fraud solutions designed to strengthen your transaction framework while optimizing regulatory compliance. Fraud Fighter’s™ portfolio of proprietary technologies and products enable firms of all sizes to capture digital images of identity documents; perform a range of validation and authentication processes, depending upon specific requirement inherent in each industry, and to store the data in encrypted files that comply with privacy and data security requirements.

PDF of Regulatory Compliance Guidlines