Tax Evasion and Tax Fraud - What it means to you when monitoring BSA and filing SARs

Duration: 60 Minutes
This training on BSA compliance will help you understand the concept of tax evasion and tax fraud and the difference between the two. Learn the best practices to identify tax fraud and how to report suspicious activity.
Tax Evasion and Tax Fraud
Instructor: Doug Keipper, CAMS
Product ID: 506857
Objectives of the Presentation
  • What's the difference? Tax Evasion vs. Tax Fraud
  • Definitions
  • Why it matters
  • Global Tax Evasion
  • The Swiss Connection
  • Tax Havens
Why Should you Attend
Tax Evasion and Tax Fraud are at the cornerstone of an effective BSA/AML compliance program. Effective monitoring and proper understanding of the topic is required to accurately describe the transactions on a Suspicious Activity Form.

This webinar will address the types of transactions and give you examples of how to drill down further to assess those risks.

Areas Covered
  • Resources
  • Why do I care?
  • FATCA. Foreign Account Tax Compliance Act
  • Identity Theft and Tax Fraud
  • Ties to Money Laundering and Terrorism
  • FinCEN & Red Flags
Who will Benefit
  • Financial Officers
  • Bank Secrecy Act Officers
  • Front Line Staff
  • Risk Officers
  • Operational Managers
Topic Background
Bank Secrecy Act requires financial institutions to assist government agencies to detect and prevent money laundering. The Financial Crime Enforcement Network (FinCEN) publishes The SAR Activity Review Trends Tips & Issues. Tax Fraud or Evasion makes up 22% of "Other" cases. FinCEN goes on to discuss an Overview of Correspondent Banks, Tax Havens, Shell, Shelf and Offshore Companies and Trusts. They also discuss Tax Fraud or Evasion in their section on Significant Money Laundering Trends and Patterns by Accountants or CPAs. If FinCEN is giving this much time and attention to this topic, so should you.

Look at some of the headlines just from this year alone:
  • Rody accuses newspaper owners of tax evasion
  • UK woman arrested, millions recovered in tax probe
  • Caterpillar Is Accused in Report to Federal Investigators of Tax Fraud
  • Sylvain Marveaux briefly detained in tax fraud investigation
  • Star of 'American Guns' convicted of fraud, tax evasion
$300
Recorded Session for one participant
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How it works
Live Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • The webinar joining link, username and password for joining the webinar will be updated on your OCP Account 24 hours prior to the webinar
  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Doug Keipper, is a Certified Anti-Money Laundering Specialist (CAMS) since 2005 and former BSA officer and compliance officer for an $800M commercial bank in Atlanta before it sold twice in one year. He teaches anti-money laundering throughout the southeast and online. He has spent over 20 years in retail banking, wholesale mortgages and financial services.
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