Law enforcement officials and financial institution examiners often say that Suspicious Activity Report (SAR) narratives are inadequate. The narrative portion of a SAR is critical to understanding the nature and circumstances of the suspicious activity. The care with which the narrative is completed may determine whether the described activity and its possible criminal nature are clearly understood by investigators. Filers must provide a clear, complete, and concise description of the activity, including what was unusual or irregular that caused suspicion.
This session will explain what information should be included in the narrative, the level of information needed and how the information should be presented. We'll also discuss some tips from law enforcement officials to help craft narratives that provide the most effective snapshots of the activity and transactions being reported.
- Thresholds for Filing SARs
- The Importance of the SAR Narrative
- Answering the 5 Ws (and the How)
- What to Leave In, What to Leave Out
- Using Descriptive Terms
- Tips from Law Enforcement
- Confidentiality of SARs
Who Should Attend?
This session will be beneficial for Bank Secrecy Act Compliance Officers, Compliance Officers, CEOs, and staff responsible for reporting suspicious activity.
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