In 2018, almost 978,000 suspicious activity reports (SARs) were filed by depository institutions – a 6.7% increase from the prior year! This increase may be a result of the revised SAR introduced by FinCEN last year (effective February 1, 2019), which provided more options and subtypes, additional fields to report cyber events, and further text responses. Institutions are required to file complete, thorough, and timely SARs. But accurately completing a form with 95 fields and an open narrative can be daunting.
This webinar will explain how to properly complete a SAR, line-by-line, and how to make it efficiently convey information to law enforcement. It will cover how to write an effective SAR narrative and detail procedures and best practices for determining when to file, how to complete, and what to do after a filing. This jam-packed session will ensure your readiness to complete and file your next SAR.
- Field-by-field requirements
- Identifying the subject versus the victim
- Writing an effective SAR narrative that provides law enforcement with the necessary details
- Correcting errors on filed reports
- Proper SAR completion for hot button issues, including elder abuse, human trafficking, and marijuana-related businesses
- Examiner expectations for SAR filing and documentation
- Sample SAR completion procedures
- SAR FAQs
- SAR review checklist
- Sample suspicious incident report
- Employee training log
- Quiz to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is designed for BSA officers, compliance officers, security officers, and anyone responsible for managing the BSA/AML program.
ABOUT THE PRESENTER – Dawn Kincaid, Brode Consulting Services, Inc.
Dawn Kincaid began her banking career while attending The Ohio State University. She has 17 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.
Originally recorded on May 6, 2019.
Recorded webinar is available until December 31, 2019.
Free Digital Copy included with purchase to download and view beyond link expiration date.
Price includes sales tax.