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Bank Secrecy Act requires financial institutions to assist government agencies to detect and prevent money laundering. In May 2013 FinCEN published issue #23 of The SAR Activity Review Trends Tips & Issues. Table 2 documents the most frequent activities defined in Category S – Other. Tax Fraud or Evasion makes up 22% of those cases. FinCEN goes on to discuss an Overview of Correspondent Banks, Tax Havens, Shell, Shelf and Offshore Companies and Trusts. They also discuss Tax Fraud or Evasion in their section on Significant Money Laundering Trends and Patterns by Accountants or CPAs. If FinCEN is giving this much time and attention to this topic, so should you.
Look at some of the headlines just from this year alone:
Why Should You Attend:
Tax Evasion and Tax Fraud are at the cornerstone of an effective BSA/AML compliance program. Effective monitoring and proper understanding of the topic are required to accurately describe the transactions on a Suspicious Activity Form.This webinar will address the types of transactions and give you examples of how to drill down further to assess those risks.
Who Will Benefit:
Physical CD-DVD of recorded session will be despatched after 72 hrs on completion of payment