Description
Financial institutions have a responsibility to monitor, identify, and report suspicious activity. However, who decides that activity is suspicious? What processes are followed to reach a conclusion regarding activity that is flagged for review? The AML/CFT Examination procedures admit that the decision to file a SAR is often a subjective one which presents an AML/CFT Professional with a frustrating challenge as decisions could be second guessed by auditors or examiners. In this session, we will discuss best practices, investigation tips, and real world scenarios to aid in evaluating your procedures and processes for SAR decision making.
Key takeaways:
- List the regulatory expectations for SAR decision making processes
- List the documentation requirements needed to support the decision to file or not file a SAR.
- Discuss procedures for investigation steps
- Document SAR investigation conclusions
- Demonstrate requirements for timely investigations and SAR filings
- Discuss SAR decision making authority
* Please note that the recording links will be delivered to you via a downloadable word document in your confirmation e-mail. The materials that correspond with the recording will be automatically delivered upon purchasing via email from the website.
