Advanced SARs Training: Meeting Regulatory Expectations
Timothy Dunfey
Are your SARs effective? Discover how to provide better information and ensure compliance.
Banks must file complete, accurate, and timely SARs to ensure that FinCEN, bank supervisory agencies, and law enforcement derive maximum benefit from the information. Preparation errors and filing weaknesses, including late submissions, can diminish the effectiveness of SARs.
Regulators have always expected Suspicious Activity Reports (SARs) to be accurate and well-written but over the past few years, SAR writing has become more complicated and includes specific coding to describe the purpose of the SAR. Moreover, the Anti-Money Laundering Act of 2020 raised the issue of SAR's usefulness.
Regulatory expert Timothy Dunfey will explore how to write an effective SAR narrative and properly complete SARs for commonly reported suspicious activities and fraud.
What You'll Learn
- SAR timing and writing basics
- Tips for ensuring SAR completeness and quality
- Types of suspicious activity have specific SAR codes such as Cyber Security Incidents, Elder Financial Exploitation, and more
- What makes a SAR useful to law enforcement and what can you do to ensure your SARs are useful
- How to write great SARs, maintain confidentiality, and avoid tipping off
- How recent FinCEN advisories will impact SAR filing procedures
This training Includes a guide to recent FinCEN SAR filing guidance, sample procedures, FAQs, a review checklist, and a sample suspicious incident report.
Course Outline
Meet the Expert
Timothy Dunfey
As a financial services attorney and risk management professional, Timothy Dunfey helps financial institutions of all sizes navigate their most complex challenges. With over 20 years of experience in management, sales, operations, and compliance, he offers a wide range of services to help clients assess and address regulatory risks, develop new products, negotiate contracts, and implement effective risk mitigation strategies.
His distinguished career includes serving as a Compliance Officer at Citibank, where he oversaw enhanced due diligence for the highest-risk customers, and as a Deputy BSA Officer at Great Florida Bank. As a consultant, he has represented boards regarding regulatory deficiencies, managed numerous financial crimes compliance projects, and conducted audits and risk assessments for a wide variety of financial institutions.
Who Should Attend?
Training Includes
The Advanced SARs Training: Meeting Regulatory Expectations course includes the following:
Two Year Course Access
Access your course through your customer dashboard
- Course access for 2 full years
- All live sessions include access to the on-demand recording post live session
Class Experience
Live sessions are small and focused to support questions and discussion. Self-paced on-demand courses allow you to move through the material on your own schedule.
Resources
Downloadable course materials to support learning
Attendance Certificate
All sessions include an Attendance Certificate
