Throughout the US, CRI can help with the basic questions of whether or not to file the SAR, when and how to file “supplemental SARs,” documentation expectations of the banking and securities regulators, collection of evidence, and how to report up through senior management, the Board of Directors, FinCEN, and both domestic and international law enforcement. CRI’s SAR specialists are also available to support your staff and ease SAR bottlenecks.
Example: A top-tier retail bank called CRI experts to analyze a systematic CTR error, which caused hundreds of missing or late CTRs. Upon closer investigation, dozens of unfiled SARs were also discovered. CRI completed fact-gathering for the bank, prepared draft SARs to assist with timely filing, performed a quality review of the new SARs, and advised the bank on how SARs could be filed without drawing unnecessary criticism from FinCEN and the federal and state regulators.