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
Reminder: The registration fee includes live attendance AND a playback recording of the, which is available once the session concludes.
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.
December 19, 2024