Overview :
This webinar will discuss Suspicious Activities Reporting and examine Red Flags that pose present and future challenges for regulated businesses. Recognizing and investigating suspicious activities is the key in safeguarding an organization’s financial system from illicit use and combating money laundering.
It would be prudent to ensure having an effective AML compliance program which is tailor-made for the key risk factors within an organization. Timely and accurate reporting will promote national security through the collection, analysis, and dissemination of financial intelligence to the proper authorities.
Why Should You Attend :
At the heart of the Bank Secrecy Act (BSA) and the core of any good AntiMoney Laundering (AML) program is the Suspicious Activity Report (SAR), which all financial institutions - banks, credit unions, brokers, casinos, insurance companies, etc. - must file when confronting questionable transactions. SARS are a crucial part of any kind of anti-money laundering investigation.
Areas Covered in this Webinar :
In accordance with regulatory obligations, there are strict reporting procedures in place to minimize the risk that could be used for money laundering purposes including:
• Where SAR and STRs fit within BSA/AML Compliance Management?
• SAR preparation and reporting
• SAR Perceptions and realities
• Best Practices in SAR reporting
• Knowing your customer (KYC)
• Beneficial Owners
• Proper identification of your clients and vendors
• How digitization has changed movement of money
• AML Compliance and Digital Currencies
• Monitoring, investigating and reporting suspicious transactions
• Training staff to recognize suspicious transactions and to be aware of their reporting obligations
Learning Objectives :
• Provide guidance in recognizing, investigating and reporting suspicious activities
• Instructions on implementing and maintaining an enterprise wide compliance program to safeguard the financial system from illicit use and combat money laundering and promote national security through the collection, analysis, and dissemination of financial intelligence to the regulatory authorities
• Best practices in SAR reporting and follow up activities which focus on investigation, customer acceptance policy, identification procedures, ongoing monitoring, recognizing red flags and risk management
• Creating risk profiles for all customers, based on low, medium and high categories and using information derived from their identity, social/ financial status, nature of business activity, information about each client’s business and their location
Who Will Benefit :
• Compliance Managers & Officers
• Risk Managers and Officers
• Controllers
• Presidents/ Vice Presidents
• Managers/ Supervisors
• Independent Sales Organizations
• CFOs and Presidents of Payment Service Providers
For more information, please visit : https://www.complianceglobal.us/product/700564/ArmenKhachadourian/sar-perceptions-and-reality-in-aml-investigations/1
Email: support@complianceglobal.us
Toll Free: +1-844-746-4244
Tel: +1-516-900-5515
Level:
Intermediate
Speaker Profile :
Armen Khachadourian is the Founder and President of Digital Payments Inc, a consulting firm providing advisory services in the areas of merchant processing, BSA/AML Best practices and guidelines, ISO/MSP formation, merchant portfolio and acquiring acquisitions, prepaid and alternative payment products.
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