Introductory BSA/AML Examiner School, Providence, RI

Suspicious Activity Monitoring Examination Procedures Suspicious Activity Reporting procedures consist of 5 major areas: 1. Identification of Unusual Activity 2. Managing Alerts 3. SAR Decision Making 4. SAR Completion and Filing 5. Transaction Testing

Suspicious Activity Monitoring

1. Identification of Unusual Activity Procedure: Review the bank’s policies, procedures and processes for identifying, researching and reporting suspicious activity. • Have the policies and procedures been board approved in the past 12 months? Noted in the board minutes? • Does the policy include guidance on reporting suspicious activity? • Does the policy identify the person(s) responsible for identifying, researching and reporting suspicious activity?