Advanced SARs Training: Meeting Regulatory Expectations

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 specific SAR codes such as Cyber Security Incidents, Elder Financial Exploitation, and more
  • What makes a SAR useful to law enforcement and what can you do to ensure your SARs are useful
  • How to write great SARs, maintain confidentiality, and avoid tipping off
  • How recent FinCEN advisories will impact SAR filing procedures

This training Includes a guide to recent FinCEN SAR filing guidance, sample procedures, FAQs, a review checklist, and a sample suspicious incident report.

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Tuesday, August 13, 2024; 2:00 PM Eastern

Scheduled for 60 minutes including question and answer period.

INFORMATION
Training Overview

Are your SARs effective? Discover how to provide better information and ensure compliance in 2024

In 2024, 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.


Here is a sample of what this webinar will cover:

  • SAR timing and writing basics
  • Tips for ensuring SAR completeness and quality
  • Types of suspicious activity have specific SAR codes such as Cyber Security Incidents, Elder Financial Exploitation, and more
  • What makes a SAR useful to law enforcement and what can you do to ensure your SARs are useful
  • How to write great SARs, maintain confidentiality, and avoid tipping off
  • How recent FinCEN advisories will impact SAR filing procedures


This course will cover the basics to advance quality and completeness, then address the FinCEN-highlighted codes and how your bank can ensure the SARs your department writes are useful.

Recommended Audience
Who Should Attend?
  • BSA Officers and Directors
  • BSA and FCC Staff and Analysts
  • Vice presidents and directors of product
  • Product managers
  • Banking operations managers
  • Digital banking managers
  • Payments directors
  • Compliance officers and managers
  • Risk management staff
  • General counsel
What's included
Training includes
  • Certificate of Attendance
  • All resources and training materials
  • Guide to Recent FinCEN SAR Filing Guidance
  • Sample Procedures, FAQs, Review Checklist
  • Sample Suspicious Incident Report
About

Expert Presenter

Timothy Dunfey
  • Financial crimes compliance attorney and consultant with over 20 years of experience in financial services management, sales, operations, and compliance
  • Currently overseeing legal and compliance matters for a credit card company
  • Previously Compliance Officer at Citibank, overseeing EDD for the highest risk customers, and Deputy BSA Officer at Great Florida Bank
  • As a consultant with Promontory Financial Group, represented boards regarding regulatory deficiencies, managed numerous FCC improvement projects, and conducted audits and risk assessments across a wide variety of financial institutions J.D. degree

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