Advanced SAR Training: Beyond the “Textbook”

The COVID-19 outbreak and its ripple effects are wreaking havoc across the country. One (among many) serious, emerging issue is pandemic-related fraud. Whenever a crisis arises, fraudsters are more than ready to exploit every vulnerability, especially in the financial sector. Join this advanced session to learn when filing a SAR is indicated, the impact of recent guidance, how to identify the subject (versus the victim), and so much more. Now is the time to stay vigilant!

The COVID-19 outbreak has brought so many challenges, not the least of which is pandemic-related fraud. Several familiar schemes – with a COVID-19 angle – have resurfaced with a vengeance! FinCEN has advised staying alert, releasing its first guidance in the early days of the pandemic and four more advisories since.

This session will introduce the emerging, illicit pandemic-related trends, identify red flags for common scams, and teach you to recognize when a SAR may be warranted. It will delve into developing SAR trends outside the pandemic and detail completion of corresponding SAR fields for issues such as elder financial exploitation, mortgage origination fraud, and funnel accounts, where filings have increased by 38%, 416%, and 1225% respectively! You’ll gain insight into how to write an effective SAR narrative and get details on procedures and best practices for determining when to file, how to complete a SAR, and what to do after filing. This jam-packed session will ensure you’re ready to meet the next SAR challenge!

Attendance certificate provided to self-report CE credits.

• Sample SAR completion procedures
• SAR frequently asked questions
• SAR review checklist
• Sample suspicious incident report
• Employee training log
• Interactive quiz