Drive consistency in SAR filing ahead of AMLA changes. Learn how to update your reporting procedures.
Suspicious Activity Reports (SARs) can be one of the most challenging areas to understand for investigations and audits.
The Anti-Money Laundering Act of 2020 will likely bring changes to the requirements, necessitating reviewing and updating your procedures. The COVID-19 pandemic makes it particularly crucial to be vigilant and detail-oriented with SAR filings as suspicious activities run rampant and regulators increase their oversight.
- What are the essential SAR requirements?
- What testing is typically applied to SAR filings?
- How can you enhance overall SAR quality?
- How does auditing ongoing reports differ from auditing initial filings?
- How should filers tailor reports based on risk assessment?
- What changes might the Anti-Money Laundering Act of 2020 bring to SAR filing?