BVL Vol. 31: BSA: SARs & Beyond


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Recognizing Suspicious Activity: Determining whether activity is criminal, suspicious, or just unusual

Script: Barbara E. Hurst, Editor, Bankers' Hotline
Presenter: Alan Pratt, Bankers Video Library

In performing day-to-day transactions for our depositors, we must always be alert for the individual who could be using our financial institution for illegal or illicit purposes.

Any unusual transaction or behavior may arouse the suspicions of a trained and knowledgeable employee. In some cases the fraud or money laundering is obvious. In other cases, only the most observant banker will detect the offense.

The accountability that is now an important part of the financial institution's regulations means that every employee must be able to recognize suspicious activity when it becomes apparent. And those responsible for filing Suspicious Activity Reports must be able to determine which activities and transactions are dangerous, which are truly suspicious, and which are merely unusual - and know how to handle and report (or not report) each possibility.

The scenarios we've used could happen in any financial institution in the United States. They are happening now. Once your employees know what to look for, whether it be structuring, tax evasion, fraud, or any type of illegal activity - if it happens in their offices, they'll be able to recognize it and report it.

Used along with the accompanying training material, this program meets the Bank Secrecy Act training requirement regarding SAR filing mandated by your regulator.

This program will help you with:
  • Both clear-cut and subtle cases of reportable activity
  • The "honest" depositor and what to do about his "not-so-illegal activity"
  • Recognizing evasive answers
  • Learning that facts don't lie
  • How to decide to file or not to file
  • Avoiding defensive filing
  • How to write a "didn't-file" memo that will satisfy the examiner
"This program is thorough, easily understood, and applied. Good Bank Secrecy Act SAR training for all banking employees."

Barry Thompson
Thompson Consulting Group, Security/BSA
Oswego, New York

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  • Model: VID-v31
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This product was added to our catalog on Wednesday 03 May, 2006.

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