Understand the current requirements and regulatory expectations related to your suspicious activity filings.
Many financial institution employees are aware of the requirement to file suspicious activity reports (SARs) with the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) and the general notion that SARs are required to be kept confidential, but do not understand how or why SARs are used by law enforcement, what is required to be reported on them, how they are filed with FinCEN, and why they need to be kept confidential. This material will help the persons involved in a financial institution's anti-money laundering (AML) compliance efforts understand these points, focusing most importantly on the bounds of SAR confidentiality. Financial institutions, and their directors, officers, employees, or agents that breach SAR confidentiality requirements may be subject to civil and criminal penalties; this information will assist individuals in understanding the requirements. This topic will also explore what the SAR filing requirement may look like in the future under the AML Act recently passed by Congress.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
The Bank Secrecy Act (BSA)
- Overview of the BSA
- Anti-Money Laundering (AML) Program Requirement
- Reporting Requirement
The Suspicious Activity Report (SAR) Filing Requirement
- History of the SAR Filing Requirement
- When Are SAR Filings Required?
- How Quickly Do SARs Need to Be Filed?
FinCEN Form 111
- How to File SARs With FinCEN
- What Information Is Contained on the SAR Form?
- How to Write Effective SAR Narratives
SAR Confidentiality
- Disclosing to FinCEN and Law Enforcement
- Disclosing Within the Corporate Organizational Structure
- Recent Enforcement Actions
SARs: Current Issues
- Recent FinCEN Guidance and FAQs
- FinCEN Data Breach
- New Legislation: AML Act
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on September 26, 2025.
Call 1-866-352-9540 for further credit information.
- AR CLE 1.25
- This course has been approved for 1.25 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.5
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.5
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.25
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.25 CLE credit hours.
- NH MCLE 1.4
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 84 Minutes.
- NJ CLE 1.7
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.7 hours of total CLE credit.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- VT CLE 1.25
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.25 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WI CLE 1.5
- This program qualifies for 1.5 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 1.7
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.7 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Melissa G. R. Goldstein
McDermott Will & Schulte LLP
- Partner, Schulte, Roth & Zabel LLP
- Advises banks, broker-dealers, investment advisers, funds, insurance companies, and money services businesses, including those involved in global e-commerce and virtual currency, on the anti-money laundering and sanctions regulations, rules, and related issues governing their investment and business activities
- Expertise with issues arising out of the USA PATRIOT Act, as amended by the Bank Secrecy Act
- Frequent speaker on anti-money laundering-related issues
- Previous attorney-advisor with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), where she assisted in the development of anti-money laundering regulations and guidance and served as counsel on enforcement actions involving issues such as failure to implement and maintain an adequate anti-money laundering compliance program, failure to register as a money services business, and failure to maintain the confidentiality of suspicious activity reports
- J.D. degree, Fordham University School of Law; B.S. degree, with honors, Cornell University
- Can be contacted at 202-729-7471 or [email protected]
Jonice Jackson
McDermott Will & Schulte LLP
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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