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#2150989 - 10/24/17 06:27 PM Annual Security Report
Sheba Offline
Member
Sheba
Joined: Mar 2002
Posts: 73
Oz
Hello,

I am trying to determine if anyone still lists the number of SARs filed for the year in their annual Security Report to the Board. This is currently reported on a monthly basis to the full Board. Does it really need to be reported again? I cannot find anything in the regulation that requires it but we have been including the total in the annual report for a long time.
Thanks for the help!

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Security - PUBLIC
#2151015 - 10/24/17 07:40 PM Re: Annual Security Report Sheba
Sunshine Lady Offline
Platinum Poster
Sunshine Lady
Joined: Apr 2014
Posts: 620
No we do not do that. Now if it is in your BSA policy, than you would have to report them.
_________________________
Define Success on your own terms, achieve it by your own rules, and build a life you are proud of. Anne Sweeney

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#2151038 - 10/24/17 08:24 PM Re: Annual Security Report Sunshine Lady
Sheba Offline
Member
Sheba
Joined: Mar 2002
Posts: 73
Oz
Thanks Sunshine Lady. We don't have it in our BSA policy, so I think we are good. Appreciate the confirmation.

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#2151045 - 10/24/17 08:57 PM Re: Annual Security Report Sheba
thomasj Offline
Power Poster
Joined: Mar 2001
Posts: 5,063
Pennsylvania
As I used to wear both security/fraud and BSA/AML hats, I was responsible for reporting to the board. While I reported quarterly to the audit committee, I usually had a year end summary of both fraud loss totals for the year, security incidents for the year, and SAR filings for the year with a comparison to the previous year or two. This was a way for me to show that as we were growing - so were the number of incidents, losses, and SARs. It is not required outside of any policy that you might have, but it might be a good practice to continue.
_________________________
Knowledge is knowing what to say. Wisdom is knowing when to say it.

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#2151171 - 10/25/17 08:00 PM Re: Annual Security Report Sheba
fmissle Offline
Platinum Poster
Joined: Jul 2007
Posts: 976
Pac NW
My annual security report is fraud/physical security. I report seperately on BSA stuff at different times.

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#2154654 - 11/22/17 06:22 PM Re: Annual Security Report Sheba
Always In Training Offline
Diamond Poster
Joined: Jul 2006
Posts: 1,110
Where the Green Grass Grows
I wear both hats right now, but my annual security report is separate from my BSA reports. Previously, I wouldn't have told my security officer anything about a SAR investigation, unless he was involved in the investigation.

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