AML Investigations and SAR Preparation

Description
This training program will provide guidance in recognizing, investigating and reporting suspicious activities. It will also discuss instructions on implementing and maintaining an enterprise wide compliance program to safeguard the financial system from illicit use and combat money laundering and promote national security through the collection, analysis, and dissemination of financial intelligence to the regulatory authorities.

Objectives of the Presentation
Understand that the role and responsibility of an efficient well rounded AML program is to effectively monitor, investigate and report suspicious activities
Learn to recognize red flags early on and understand the key patterns of suspicious behaviors and take preemptive actions.

Why Should you Attend
The purpose of this webinar is to provide information and guidance regarding the new FinCEN SAR. This webinar will discuss the key concepts and the current changes in the marketplace and expose the new faces of AML. In addition, it will give a roadmap in investigating, monitoring suspicious activities and recognizing red flags that pose present and future challenges for regulated businesses.

Participants will learn BSA/AML best practices which focus on customer acceptance policy, identification procedures, ongoing monitoring, recognizing red flags and risk management. In brief, anyone who wants to open an account will undergo the same due diligence as a client opening a regular bank account. Identification processes will include scrutiny of beneficial owners, monitoring and looking for complex, unusually large transactions and set thresholds for transaction limits. If required, creating risk profiles for all customers, based on low, medium and high categories and using information derived from their identity, social/ financial status, nature of business activity, information about each client's business and their location.

In accordance with regulatory obligations, there are strict reporting procedures in place to minimize the risk that could be used for money laundering purposes including:
Proper identification of clients and vendors
Recognizing red flags
Investigating suspicious activities
Monitoring and reporting questionable behavior
SAR preparation and reporting
Guidelines in maintaining records
Training staff to recognize suspicious transactions and reporting obligations
Internal and external audit requirements

Areas Covered
The key pillars of an AML regulations
How to implement an effective program
How to recognize suspicious activities
Enhanced level of due diligence
Financial action task force and their role
New faces of AML fraud
SAR preparation and reporting guidelines
Ongoing monitoring and training programs

Who can Benefit
Compliance Officers
Independent Sales Organizations
CFOs and Presidents of Payment Service providers
Managers of Payment Service Providers

For Registration

http://onlinecompliancepanel.com/webinar/AML-SAR-501293/MARCH-2016-ES-WORLDCONCAL

Note: Use Promo code SMMSE and get 10% off on registration (Valid till March 31st)