SAR

News & Analysis as of

At Risk Cash Transaction For Business Clients—The Computers Are Watching

It is Monday morning at your law office, and you get a telephone call from one of your smaller business clients. He is frantic to say the least. Over the weekend, his employee payroll checks bounced at the bank as well as...more

AML Transaction Monitoring

Compliance programs depend on accurate and timely information. AML compliance centers on sifting through thousands of transactions and matching them against risk profiles. ...more

FinCEN: Accountant and Elder Abuse

We have been keeping track of FinCEN's SAR Activity Review – Trends, Tips & Issues virtually from its inception. In its just issued May 2013 report, FinCEN provides new information regarding two areas of importance: 1)...more

FinCEN Reminds Institutions About Tax Refund Fraud And SAR Filing

On February 26, FinCEN issued Advisory FIN-2013-A001 to remind financial institutions of their important role in identifying tax refund fraud and provide a list of red flags to aid in such identification. The Advisory also...more

You Have Discovered A Crime; Now What?

Originally published in Bank News, February 2013. Mary, your trusted employee, has embezzled money from your bank. Or, Bryan, a long-time customer, has used a deposit account at your bank to defraud his employer (and...more

U.S. Supreme Court Passes on Two Banking Cases

This week the Supreme Court denied petitions for a writ of certiorari in two banking-related appeals. In Cummings v. Doughty, No. 12-351, the petitioners, a bank and its CEO, asked the Supreme Court to determine whether the...more

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