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Whether you are a large or small financial institution the decision to file a SAR is not always a simple one and is not undertaken lightly. What does the exam manual, the regulations and the guidance give us to go from? During this program we will put together some parameters to help you decide, file and continue to monitor customer behavior for suspicious transactions that may cause you to file a SAR, close an account or make a phone call to law enforcement. Do you know when to file? Ask yourself several questions and make the decision to file. This is the complex job of BSA Officer and staff.
-SAR Decision Making
-Red Flags that indicate suspicious transactions
-National Security Letters, Subpoenas, OFAC Matches
-Amounts, time frames and activity that is reported on a SAR
-Detecting underlying crime
-Alerts to SARs—the life cycle
-Line by Line SAR Completion
-COVID 19 and SARs filings
-Issues with virtual currency
-Elder Fraud, human trafficking and human smuggling
-Closing a customer’s account
What you will receive:
Questions and Answers