Studied SARs Lately?
In the current world of BSA compliance, simply filing SARs may not be enough. SARs are a valuable resource for identifying trends and risk. Robert Curry, Director of Compliance Strategy for Fifth Third Bank, suggests using SARs as a source of information for your BSA program. He recommends reviewing SARs to pull information such as how old are the accounts and how did the accounts come in to the institution. SARs may also reveal patterns or some other connection to products, accounts, or even country risk.
Copyright © 2005 Compliance Action. Originally appeared in Compliance Action, Vol. 10, No. 13, 11/05
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