Consider your BSA program as one of the wheels that supports the vehicle that is your compliance program. Within this wheel, there are several smaller components—the rim, axle, and spokes could perhaps be considered due diligence, training, and suspicious activity monitoring. For BSA, one of these crucial pieces is the suspicious activity report (SAR) narrative.
SAR narratives can be one of the more problematic areas of BSA compliance, but they are also an important tool for helping government authorities fight criminal financial activity. Missing, faulty, Continue reading →