Filing regulatory reports

Efficient and accurate regulatory reporting is a critical component of compliance for organizations handling high-risk transactions. SEON’s platform simplifies the process, enabling teams to seamlessly prepare, manage and submit regulatory reports in alignment with financial investigation unit (FIU) requirements.

Note: SEON currently supports filing with the Financial Crimes Enforcement Network (FinCEN), with additional FIUs coming soon.

SEON’s case management system integrates regulatory reporting tools directly into the investigation workflow. When a case requires formal reporting, analysts can easily prepare a report from the Case details page.

To prepare a regulatory report:

1. Navigate to the Cases page and select the relevant case.
2. Click Create new report and choose the appropriate regulatory authority and report type (e.g., SAR, CTR).
3. Automatically populate the report with existing case details, such as transaction history, user information, and investigative findings. Learn more about report autofilling capabilities below.
4. Review and finalize the report to ensure all required fields are complete and accurate.

By integrating case data directly into the reporting process, SEON reduces manual effort and minimizes errors, ensuring reports meet compliance standards.

Workflows tailored to specific authorities

After submitting an initial report, you may need to file additional versions to the authority. Our reporting solutions are designed to align with the specific workflows of various authorities, ensuring full compliance with their requirements. This includes submitting Correct/Amend reports or Continuing Activity Reports as needed.

SEON streamlines SAR preparation by offering:

Prefilling capabilities: With proper setup, regulatory report fields can be populated with a single click, eliminating repetitive manual work.

AI-generated narratives: SEON generates detailed, professional summaries of the investigation designed to meet regulatory standards and provide clear explanations for suspicious activity.

Prefilled regulatory reports pull from critical data, including:

• Organization data
• Transaction data
• User data
• Clear and meaningful alert triggers
• Investigation summaries

This ensures that your regulatory reports are comprehensive, accurate and ready for submission.

SEON simplifies the regulatory reporting process by offering two flexible submission options. These options ensure compliance with financial investigation units (FIUs) while adapting to your organization’s needs. They are designed to streamline the preparation and submission of various regulatory reports, including Suspicious Activity Reports (SARs), Currency Transaction Reports (CTRs) and more.

Option 1: Download and upload to the FIU

1. Complete the regulatory report form and run SEON’s built-in validations to ensure all required fields are accurate and properly formatted. The system performs over 140 business validations to comply with FIU standards.
2. Once the report passes all validations without errors, download it in XML or ZIP format.
3. Manually upload the file to the applicable FIU’s regulatory reporting e-filing system.

Option 2: Direct filing via SEON

SEON also supports direct filing for supported FIUs, offering a seamless submission experience:

1. After completing and validating the report, select the Direct Filing option in SEON.
2. The platform securely transmits the report directly to the FIU’s regulatory reporting system.
3. Receive confirmation of the submission status within the SEON platform.

Note: SEON incorporates over 140 business validations specifically designed to ensure your report complies with FinCEN’s standards. These validations are applied whether you choose to download and upload the report manually to FinCEN’s e-filing system or submit it directly via SEON. This ensures your submission is accurate and meets all regulatory requirements.

By prefilling regulatory report form fields, generating SAR narratives and automating validations, SEON enables fraud and compliance teams to minimize errors, reduce manual workloads, and streamline the process of filing regulatory reports with ease.