Objectives of the Presentation
Why Should you Attend
- The requirements to file CTRs and SARs
- Usefulness to Law Enforcement of both CTRs and SARs
- Usefulness to the bank of filing CTRs and SARs
- What can be done to focus the program or improve efficiency of the program - such as exempt customer lists, tuning and rationalization of rules/scenarios?
- The importance and roll of a well-trained staff
As set forth in the introduction of the BSA, the regulations were originally intended to aid investigations into an array of criminal activities, from income tax evasion to money laundering. Law enforcement agencies have found CTRs to be extremely valuable in tracking the huge amounts of cash generated by individuals and entities for illicit purposes. SARs used by financial institutions to report identified or suspected illicit or unusual activities are likewise extremely valuable to law enforcement agencies.
The biggest failure of an AML Program is the failure to file or to adequately file SARs. It's always important to assess BSA reporting expectations and to address the question of how to define a “reasonably defined” BSA/AML Program. To that end, this webinar will discuss the important role CTRs and SARs play in this space, how to improve efficiency of the BSA/AML program, including the importance of a well trained staff.
Who will Benefit
- Purpose and evolution of the BSA
- Overview of BSA reports and requirements, including CTR's and SAR's
- Benefits and importance of BSA reporting to law enforcement
- Measuring regulatory expectations for BSA reporting
BSA/AML Officers, Compliance Officers, Chief Compliance Officers, Sanctions Officers, AML Analysts, Risk Officers, Chief Risk Officers, Legal Departments, Risk Managers and CEO/Presidents at Banks, Broker-Dealers, Money Services Businesses and other non-bank financial institutions.