Creating a Manual Alert in SAS AML
Currency Transaction Report filing requires financial institutions to report cash transactions over $10,000 to FinCEN. Suppose that a customer went into a bank branch and tried to avoid a CTR requirement. Perhaps once the customer realized his $10,5000 deposit required a report, he changed his mind. This is a red flag that can’t be picked up by the alert generation process or the scenarios that are set up in the system. Because of this, you must create a manual alert for this behavior. In this post, I’ll show how to create an alert manually in the SAS Anti-Money Laundering system.
Before I create a manual alert, I’m going to relate the customer, let’s say Jim Cook, to the branch that reported the activity.
Below is a screenshot of the customer entity page for Jim Cook. On the toolbar, I click Relate To and then select Branch because, again, I’m relating Jim Cook to the branch that reported the activity.
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In the search field, I enter Chicago, because the branch is located in Chicago, and I select the branch. Then, I click Relate To Selected and then Save.
Now on the toolbar, I’ll click the Create a TM alert button. For Notes, I enter avoiding CTR and then click OK. At this point, the system creates an alerting event and treats it the same way that it would one that is sent to the solution from any other source.
To see this, I click the Alert Activity tab. It’s important to note that you might need to refresh if you don’t see the manual alert right away. At the bottom here, I see the manual alert that I just created.
I want to mention that creating alerts in this way is limited because the alerting event doesn’t contain data about what objects and conditions triggered the alert. However, you can add a written explanation about the manual alert in the notes field, like I did above.
To view more information about alerts and our SAS Anti-Money Laundering solution in general, please visit https://support.sas.com/en/software/sas-anti-money-laundering-support.html.
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