Prescribed Transaction Reporting Services

Prescribed Transaction Reporting (PTR) plays a crucial role in ensuring compliance with AML/CFT (Anti-Money Laundering and Countering the Financing of Terrorism) regulations. Businesses and reporting entities must adhere to strict guidelines to prevent money laundering, suspicious transactions, and other financial crimes. At AB AML, we provide a comprehensive Prescribed Transaction Reporting service designed to help organizations meet their regulatory obligations efficiently and effectively.

Features Of Our PTR Services

Real-Time Reporting Capabilities

Our systems provide real-time monitoring of transactions, allowing your organization to detect and report prescribed activities immediately. This proactive approach helps mitigate risks associated with financial crime, including money laundering and terrorism financing.

We ensure that your organization adheres to all reporting requirements, including filing prescribed transaction reports for:

  • High-value cash transactions
  • Wire transfers exceeding thresholds
  • Transactions involving prescription drugs, medical gas, or other controlled substances

Our team stays updated on the latest changes in AML/CFT regulations, including updates from the Financial Intelligence Unit (FIU), Florida Department of Law Enforcement, and other governing bodies.

With a risk-based approach, we evaluate your organization’s exposure to financial crime and implement strategies to address vulnerabilities. Our solutions prioritize high-risk activities, ensuring that your compliance program aligns with regulatory expectations.

Prescribed Transaction Reporting involves meticulous documentation. We assist in preparing, reviewing, and submitting transaction reports while maintaining thorough records for audits and inspections.

Our team conducts enhanced Customer Due Diligence (CDD) for transactions flagged as suspicious or high-risk. This includes verifying beneficial owners, monitoring client funds, and ensuring compliance with prescribed reporting thresholds.

    Why Choose Us!

    AB AML specializes in providing top-notch prescribed transaction resporting services varying in a vast range of  businesses

    • Our team ensures precise AML/CFT compliance, from ownership disclosures to wire transfer reports.

    • Industry-specific compliance for financial firms, distributors, and law firms, aligned with local and global regulations.

    • Advanced analytics for accurate transaction detection, reducing false positives and improving efficiency.

    • Beyond software—comprehensive guidance to help your team navigate reporting requirements and detect risks.

    What Is Prescribed Transaction Reporting?

    Prescribed Transaction Reporting refers to the mandatory submission of reports for specific types of transactions that meet criteria outlined in AML/CFT regulations. These typically include high-value cash transactions, international wire transfers, and other activities flagged as potential risks for money laundering or terrorist financing. Reporting entities, such as banks, financial institutions, and money remitters, are obligated to submit these reports to the appropriate authorities.

    Our service ensures that your organization is equipped to identify and report prescribed transactions in compliance with the AML/CFT Act and relevant international guidelines, reducing risks and enhancing transparency.

    Industries We Serve

    Our Prescribed Transaction Reporting service is designed for a wide range of businesses, including:

    • Financial Institutions: Banks, credit unions, and investment firms
    • Money Remitters: Businesses handling cross-border and domestic fund transfers
    • Wholesale Distributors: Entities dealing with prescription drugs and controlled substances
    • Law Firms: Legal entities managing trust accounts and client funds
    • Medical Suppliers: Companies distributing medical gas and topical products

    Book A Free Consultation Now!

    Contact Us for Audit Services

    Ensure compliance and protect your business from regulatory risks with our Prescribed Transaction Reporting service. Get in touch with our team today to learn more about how we can help your organization meet AML/CFT obligations effectively.

    • Our cutting-edge transaction monitoring systems leverage artificial intelligence (AI) and advanced analytics to ensure accurate detection and reporting of prescribed transactions.

    • Compliance goes beyond software. We provide resources, guidance, and training to your team, ensuring they understand regulatory requirements, reporting formats, and red flags to watch for in suspicious activities.

    • With tools designed to minimize false positives and streamline processes, your compliance team can operate more efficiently.

    How Our Service Benefits Your Business

    1. Reduce Regulatory Risks

    Failure to comply with prescribed transaction reporting requirements can result in hefty fines, legal penalties, and reputational damage. Our service helps you avoid these risks by ensuring timely and accurate reporting.

    2. Enhance Operational Efficiency

    Our streamlined processes and advanced technology improve the efficiency of your compliance operations, freeing up resources for other business priorities.

    3. Minimize False Positives

    Our solutions incorporate AI-driven analytics to reduce false positives, allowing your compliance team to focus on genuine risks.

    4. Stay Ahead of Regulatory Changes

    AML/CFT regulations are constantly evolving. We monitor changes in laws and provide timely updates to ensure your compliance program remains effective.