Failure to File SARs: Sex Trafficking & Big Settlements

Would you believe more than 400 million dollars? This program will break down the critical SAR and monitoring failures behind recent major settlements and show how you can apply lessons learned directly to your BSA/AML program.

Jeffrey Epstein’s victims sued several large banks and have won huge settlements.  These institutions face financial loss in the millions and reputational damage for allowing millions of criminal transactions to flow through their institution. What does this mean to you? In these settlements the institutions were noted to fail to file Suspicious Transaction Reports and monitor transactions appropriately. We will look at the lessons learned from these settlements of over $400 million and apply those lessons to our own BSA/AML risk programs.