Financial Services ERP for United States

The Bank Secrecy Act and its implementing regulations require financial institutions to establish anti-money laundering (AML) programs, file Currency Transaction Reports (CTRs) for cash transactions exceeding $10,000, and submit Suspicious Activity Reports (SARs) when activity suggests potential money laundering, fraud, or terrorist financing. Customer due diligence under the CDD Rule requires identifying and verifying beneficial owners of legal entity customers. OFAC sanctions screening must be performed against the Specially Designated Nationals (SDN) list for all transactions.

Dodd-Frank Act requirements continue to shape compliance obligations, including the Volcker Rule restrictions on proprietary trading by banks, swap dealer registration and margin requirements, and Consumer Financial Protection Bureau (CFPB) oversight of consumer financial products. The SEC Regulation Best Interest requires broker-dealers to act in the retail customer best interest when making recommendations, with Form CRS disclosure requirements.

Yukti provides financial services firms with compliance management that covers BSA/AML program requirements including automated CTR filing for qualifying cash transactions, SAR workflow management with investigation documentation, and CDD/beneficial ownership verification. Risk management tools calculate capital adequacy ratios under Basel III standards and perform stress testing scenarios. The client onboarding module integrates KYC verification, OFAC screening, and risk rating assignment. Financial reporting follows US GAAP with the specific presentation requirements of ASC 820 fair value measurements and ASC 815 derivatives and hedging disclosures.