Advanced SARs Training: Meeting Regulatory Expectations
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Are your SARs effective? Discover how to provide better information and ensure compliance.Β
Banks must file complete, accurate, and timely SARs to ensure that FinCEN, bank supervisory agencies, and law enforcement deriveΒ 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 writingΒ has become more complicated and includes specific coding to describe the purpose of the SAR.Β 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.
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INFORMATION
Training Overview
Recommended Audience
Who Should Attend?
What's included
Training includes
- Certificate of Attendance
- All resources and training materials
- Guide to Recent FinCEN SAR Filing Guidance
- Sample Procedures, FAQs, Review Checklist
- Sample Suspicious Incident Report
- ["Financial crimes compliance attorney and consultant with over 20 years of experience in financial services management, sales, operations, and compliance","Currently overseeing legal and compliance matters for a credit card company","Previously Compliance Officer at Citibank, overseeing EDD for the highest risk customers, and Deputy BSA Officer at Great Florida Bank","As a consultant with Promontory Financial Group, represented boards regarding regulatory deficiencies, managed numerous FCC improvement projects, and conducted audits and risk assessments across a wide variety of financial institutions J.D. degree"]
