Preparing Effective SAR Narratives
This BSA/AML compliance training will provide detailed understanding of the authoritative guidance related to SAR narratives as well as law enforcement and regulatory expectations surrounding these. Attendees will also learn about the implications for depository institutions in the new environment of “Big Data” analysis of SARs and SAR narratives.
Why Should You Attend: Suspicious Activity Reports (“SARs”) are at the core of the Bank Secrecy Act’s (“BSA”) objective to prevent the U.S. financial system from being used to facilitate money laundering, terrorist financing and other criminal activities. Mandatory electronic filing of SARs (effective July 1, 2012) has enabled enhanced analysis of SAR content by law enforcement and regulators using big data analytical tools. More than ever before SAR narrative content is analyzed, compared and contrasted with data from other financial institutions, other law enforcement and regulatory databases as well as data contained in other BSA reports submitted by the bank. This significantly enhanced scrutiny of SAR data drives a critical need for depository institutions to revisit the adequacy of their training, policies, procedures and controls for preparing effective SAR narratives. This webinar will provide authoritative guidance on how to prepare effective SAR narratives that meet law enforcement’s expectations. It will discuss regulators’ use of SAR narratives in conducting BSA/AML compliance examinations. This webinar will provide highly useful information to persons who are seasoned preparers of SAR narratives as well as the essentials needed to sustain compliance by persons newly assigned this responsibility. Areas Covered in the Webinar:
Authoritative guidance related to SAR narratives. Law enforcement’s utilization and expectations regarding SAR narratives. Regulators use of SAR narratives in conducting BSA/AML compliance examinations. Completeness considerations in preparing SAR narratives. Format and content sound practices. Proper and improper disclosures of SAR narrative information.
Who Will Benefit:
BSA/AML Compliance Officers and their Staff Chief Compliance Officers and their Staff Chief Risk Officers and their Staff Chief Training Officers and their Staff Heads of Financial Investigative Units (“FIU”) and their staff Internal Auditors Outside Consultants who conduct Independent Tests of Financial Institutions
For more details please visit us at: http://www.complianceonline.com/ecommerce/control/trainingFocus/~product_id=703504/~P reparing_Effective_SAR_Narratives