Description:
FinCEN estimates that the Suspicious Activity Report (SAR) takes on average two hours to complete. However, many AML/CFT professionals that wrestle with the myriad of check boxes, investigation, and SAR narrative challenges find that the process takes significantly longer.
Navigating the FinCEN Electronic Filing Instructions, software mapping, and general understanding of the sheer volume of suspicious activity typologies challenges even experienced professionals. In this session, we’ll navigate the various fields, check boxes, highlight some pain points and common areas where mistakes are made, and provide examples of when certain check boxes should be used.
Key takeaways:
- Define suspicious activity types
- List common SAR completion errors
- Discuss FinCEN Guidance for SAR completion
- Demonstrate impact of FinCEN advisories and SAR requirements
- List requirements for completing the SAR narrative
Presenters:
Brian Crow, CAMS
Brian Crow is managing partner and co-president for TCA Compliance and is a nationally recognized BSA/AML expert with a strong bank compliance management background and a welcome ability to provide focused educational support to TCA client banks. Crow most recently was BSA Administrator for a suburban Chicago bank, where his responsibilities included the bank’s annual assessment and audit documentation. Earlier, as Operations Officer at the same bank, Crow monitored AML activity and helped install automated AML software that allowed the bank to transition from paper to electronic CTRs. His activities were responsible for reducing debit card fraud by 95 percent at the bank. Mr. Crow has been, and continues to be, an education consultant for the Glia Group BOL Learning Connect program. It was in this role that Crow was recognized as a Bankers Online Guru in 2011. Like many of us, Mr. Crow began his banking career as a teller, working his way up to branch management responsibilities. He earned a B.A. degree from Concordia University, River Forest Illinois.
April 23, 2025