Description
Gain a better understanding of suspicious activity reporting and the bounds of SAR confidentiality.Many persons involved in lending arrangements may not fully understand whether the arrangement is subject to antimoney laundering (AML) compliance requirements, including the need to file suspicious activity reports (SARs) with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), what is required to be reported on SARs, how they are filed with FinCEN, and why they need to be kept confidential. This presentation will help those involved in lending arrangements understand the federal antimoney laundering (AML) compliance requirements applicable to their business, with a particular focus on suspicious activity reporting and the bounds of SAR confidentiality.
Date: 2022-11-18 Start Time: End Time:
Learning Objectives
The Bank Secrecy Act (BSA)
• Overview of the BSA
• Anti-Money Laundering (AML) Program Requirement
Applicable AML Laws to Lending Arrangements
• What Is a Loan or Finance Company?
• What Is a Residential Mortgage Lender or Originator?
The Suspicious Activity Report (SAR) Filing Requirement
• History of the SAR Filing Requirement
• When Are SAR Filings Required?
• How Quickly Do SARs Need to Be Filed?
FinCEN Form 111
• How to File SARs With FinCEN
• What Information Is Contained on the SAR Form?
• How to Write Effective SAR Narratives
SAR Confidentiality
• Disclosing to FinCEN and Law Enforcement
• Disclosing Within the Corporate Organizational Structure
• SAR Filing Requirement: Penalties
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Melissa G. R. Goldstein-Schulte Roth & Zabel
