Advanced SARs Training: Meeting Regulatory Expectations

  Are your SARs effective? Discover how to provide better information and ensure compliance.  Banks must file complete, accurate, and timely SARs to ensure that FinCEN, bank supervisory agencies, and law enforcement derive maximum benefit from the information. Preparation errors and filing weaknesses, including late submissions, can diminish the effectiveness of SARs. Regulators have always expected Suspicious Activity Reports (SARs) to be accurate and well-written but over the past few years, SAR writing has become more complicated and includes specific coding to describe the purpose of the SAR.  Moreover, the Anti-Money Laundering Act of 2020 raised the issue of SAR's usefulness. Regulatory expert Timothy Dunfey will explore how to write an effective SAR narrative and properly complete SARs for commonly reported suspicious activities and fraud. What You'll Learn SAR timing and writing basics Tips for ensuring SAR completeness and quality Types of suspicious activity have specif