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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!
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