In the first half of 2019, over 540,000 SARs were filed – with most filings
going beyond reporting a “simple” structuring transaction. On July 16, 2019,
FinCEN issued an advisory detailing their SAR-filing expectations regarding
accountholders who are victim to email compromise. Just one day later, the CFPB
issued guidance on reporting suspected elder abuse. The Agencies detailed the
timing, field content, and narrative specifics examiners will expect to see in
filings and procedures. Have you updated your procedures?
What about the
mandatory filings for marijuana-related businesses, suspected human
trafficking, and other fraud hot-button areas? Do you know how to properly
complete a SAR for these hot spots? How can you maximize a SAR’s effectiveness
as a vehicle for delivering information to law enforcement? Learn how to write
an effective SAR narrative, procedures and best practices for determining when
to file, how to complete a SAR, and what to do after filing. This jam-packed
session will ensure your institution is ready to file the next SAR!
- Recent regulatory and Agency advisories and guidance and the impact on SAR
filing processes and procedures
- Detailed field-by-field requirements for
hot-button SAR filings
- Identifying the subject versus the victim
- Writing an
effective SAR narrative with all required information detailed in recent
advisories and guidance
- Examiner expectations for SAR filing regarding the
risk-focused approach used for BSA/AML exams, which was reemphasized by the
Agencies earlier this year
Dawn Kincaid, Brode Consulting Services, Inc.
Live and recorded webinar, handouts, quiz with answer key and training log are included.