Suspicious Activity Reporting (SAR) – Trends and Updates – ON-DEMAND WEBINARS

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SKU: SWSAR-1 Category:
Overview

Date Recorded: March 31, 2022
Presenter: Mark W. Dever, AAP, CAMS, Vice President

In the first nine months of 2021, financial institutions filed more than one million SARs, and all seven filing groups had filed almost 2.3 million SARs. This two-hour webinar will review the most important document in Bank Secrecy Act (BSA) reporting, the Suspicious Activity Report, as well as update members of the compliance, training, and audit staffs on the most important aspect of BSA/AML compliance, the detecting and reporting of suspicious activities. Law enforcement continues to rely upon and utilize SAR filings to thwart money laundering and terrorist financing activities. Recent federal guidance will continue to modify and enhance the SAR “process” within all depository financial institutions.

Here’s What You Will Learn:

  • SAR (Form 111, v 1.2);
  • Discuss identifying suspicious transactions;
  • Review 2021 “status” of SAR reporting – numbers of filings increasing;
  • Highlight proper SAR form completion and submissions;
  • Emphasize the importance of the “SAR Narrative” and the “SNFs”;
  • Examine the latest SAR rulings, advisories, and “guidance” from the agencies;
  • Review the criticality of SAR confidentiality;
  • Discuss the SAR “element” in “Customer Due Diligence (CDD); and
  • Allow time for questions from participants.

Recent well-publicized BSA enforcement actions, fines, and deferred prosecution agreements continue to support a climate proving BSA compliance remains of paramount importance to all financial institutions. This two-hour webinar from ProBank Austin will not only provide the retail, compliance, and audit staffs with a current update on Suspicious Activity Reporting but will also discuss other regulatory and legal issues related to anti-money laundering and counter-terrorist financing activities. It will also complement existing internal education sessions to help meet the annual BSA/AML training requirements for retail, compliance, and audit personnel.

Who Should Listen

This seminar will be of value to anyone involved in identifying and referring suspicious activities, and/or for anyone involved in managing the SAR “program” within the financial institution. This seminar will also be of value for BSA Officers, compliance officers, training coordinators, and members of the audit staff.

Program Level: Basic

Prerequisite/Advanced Preparation: Basic Knowledge of BSA/AML Regulations

Field of Study: Specialized Knowledge

Copyright Disclaimer

Any recording, transmission, retransmission, or republishing of any portion of this webinar is prohibited.