Utilizing the Suspicious Activity Report Audit as a Diagnostic for a Financial Institution’s AML Program

Author: Michael Schidlow, CAMS-Audit

Modern, adaptable and successful SAR audits need to consider not only regulatory efficacy but also the weight of the institution’s filing regime in terms of detecting and deterring the actual predicate offenses. This paper will serve to explore the correlation between a strong SAR audit process and the appropriate detection and reporting of a client’s suspicious activities.

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