Financial Institutions: Step-by-Step Guidance on the FinCEN SAR Update
In January 2018, Financial Crime Enforcement Network (FinCEN) announced changes to the Suspicious Activity Report (SAR) form. Financial organizations currently subject to the FinCEN SAR eFiling will soon have to make major changes to comply with the new rules by January 1, 2019. The suspicious activity types that need reporting have been updated, new fields have been added to the form, and the ASCII format is being updated to the XML format to name a few.
Download this whitepaper to learn more about:
- Some of the major eFiling changes and how that will impact your organization;
- Practical guidance and steps on getting your organization better prepared;
- Important implementation dates to keep in mind.