AML Compliance: Suspicious Transaction Reports (STRs/SARs)

Partner: Udemy
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Description: (UPDATED JANUARY 2024)Are you looking to take your AML narrative and report-writing skills to the next level? If so, we've got just the thing for you: a guide on how to craft high-quality AML narratives and reports that will impress even the most discerning Financial Intelligence Units (FIUs). Updated captionsUpdated general content, including the closed caption and subtitle.Bonus Resource: Wolfsberg AML Principle on Political Exposed Persons (PEPs)Videos and voicing are being redone with new contentWriting qualitative AML narratives and reports for FIUs should not be a nightmare. By legislation, all reporting entities are obligated to generate specific reports, known as Suspicious Transaction Reports (STRs) or Suspicious Activity Reports (SARs) in some jurisdictions, to the competent authority Financial Intelligence Units (FIU) for receiving these reports. It has been observed that most financial and non-financial Institutions struggle with sending quality Suspicious Transaction Reports (STRs) or Suspicious Activity Reports (SARs) to the FIUs mainly because these reports lack the salient information the analysts or investigators need to know. Most money laundering reporting officers (MLROs) are not skilled or are confused about how to proceed when needed. This is what this course seeks to address.Students will learn the following:1. What is a suspicious transaction?2. Importance of writing and sending qualitative reports3. What an account officer must know ahead of time about a client’s information4. How an account officer should explain what a suspicion is and all others5. How not to send incomplete STRs/SARs narratives. 6. Case study and class exercise. By sending a qualitative report, the financial institution helps the financial intelligence analysts or investigators understand the suspicion, among other reasons.This is the concluding part
Category: Finance & Accounting > Compliance > Anti-Money Laundering (AML)
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Price: 19.99
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Source: Impact
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