FinCEN leaks impart key lessons on basics of writing SARs
By 
Martin Woods2020-09-23T20:34:00
Martin Woods, who has analyzed many of the suspicious activity reports released as part of the “FinCEN Files,” offers best practices for compliance officers in writing SARs.
Related articles
-
ArticleICA roundtable: Five tips for filing more effective SARs
A recent roundtable explored the anxieties compliance officers face in filing suspicious activity reports and offered advice for overcoming such difficulties.
-
ArticleBanks filing more SARs amid pandemic; is this the right approach?
An increase in the submission of suspicious activity reports for cash values that fall under the mandatory $10,000 transaction reporting threshold last year is a proactive step by banks, but more can always be done, writes Martin Woods.
-
ArticleAnalysis: Improving SARs effectiveness takes more than act of Congress
In the wake of 2020’s FinCEN Files leaks, the U.S. Treasury this year will undertake a thorough reevaluation of the country’s AML program under the Bank Secrecy Act.
More from Opinion
-
OpinionHow to make the business case to upgrade records management systems
Companies are giving their records management programs a makeover, and not for the reasons you may think. What used to be a sleepy back-office legal department function is now front and center, often driven by compliance teams. Organizations are discovering that a “save everything, forever” de facto policy doesn’t ...
-
OpinionWhy the EU’s new Machinery Regulation is a wake-up call on cybersecurity
The European manufacturing industry is on the cusp of a regulatory shift that promises to reshape how machines are designed and operated.
-
OpinionWrite supply chain resilience into the contract
The only thing constant is change. Shouldn’t we be ready for that in our contracts?