Alert! New SAR Line-By-Line Webinar
FinCEN issued a notice to e-filers that announced an update to the Suspicious Activity Report (SAR) filing format, to go live in June 2018. The announcement says that the revisions adhere to the changes listed in FinCEN’s February 2, 2017, Federal Register notice. Beginning with the new SAR filings, batch submissions will have to be made in an XML-based file, rather than in the current ASCII fixed-length delimited file format.
Webinar Description and Intended Audience
FinCEN issued a notice to e-filers that announced an update to the Suspicious Activity Report (SAR) filing format, to go live in June 2018. The announcement says that the revisions adhere to the changes listed in FinCEN’s February 2, 2017, Federal Register notice. Beginning with the new SAR filings, batch submissions will have to be made in an XML-based file, rather than in the current ASCII fixed-length delimited file format. Other notable changes:
- A new text field to alert FinCEN that a SAR is being filed in response to a current GTO, advisory or other activity
- A new “Cyber Event” suspicious activity type category
- New or modified subtype selections associate with Structuring, Fraud, Gaming activities, Money laundering, Identification/Documentation, Other suspicious activities, Securities/Futures/Options, and Mortgage fraud.
- New text fields with the IP Address field to record the date and/or timestamp of the first instance of the reported IP address
- New category of fields to record up to 99 cyber events associated with the suspicious activity
- New product type selections
- New subtype selections for securities and futures institutions
Discrete filers will start using the new online e-filing form in June 2018. Batch filers may start sending XML-format files with the revised fields beginning in June, but must complete their changeover to the new format within 6 months of the June “go-live” date. ASCII batch files will be accepted until January 1, 2019.
- Who is a subject and who is the victim? And which goes where?
- Completing the section on the crimes. What can we check? What is each crime and can there be more than one?
- What are the 24 narrative bullet points and how to make sure they are covered
- Who can I give supporting documentation to and how?
- Working with the frontline and the system to generate information that is helpful for fraud
- Revamping and validating my fraud model. Is my model working?
- Joint SARs, continuing SARs and confidentiality issues
Who Should Attend?
Tellers, BSA Officers, BSA Support personnel, Deposit Operations, Compliance Officer, Branch Operations
Webinar Viewing Options
INCLUDES 7 DAYS OF UNLIMITED ONDEMAND PLAYBACK! With this option, you will participate in the webinar live, via the internet. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. You can type and send your questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate at the same time. And don’t worry if you miss the webinar, you can still view it for up to seven days after it takes place!
SIX MONTH ONDEMAND VIDEO:
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it a very effective training tool. The OnDemand Video will be available to you (and anyone else in the company) for six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of any applicable handouts and a CD-ROM (featuring the full-color PowerPoint presentation with audio) via regular mail. Mailed 7 to 10 days after the webinar takes place.
Webinars can be scheduled and offered exclusively for your company. They can even be customized to best fit your needs. To find out more, please complete the in-house request form found in the Schedule and Registration Information section below.
Continuing Education (CE) Credits
This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.