Being able to discern such activities and to report them to the authorities is crucial for an MSB. MSBs can be held accountable for such illegal activities under the law if the activity is not reported. Therefore, it becomes extremely important for everyone associated with the money service business to be aware of the ways that money can be laundered and on the process of reporting it to the authorities.
In the course titled “Suspicious Activity Reporting” you will be guided through the process of reporting a suspicious activity within the organisation and to law enforcement. There will be a thorough explanation of the appropriate law enforcement authority to contact in every situation. There are detailed examples from day-to-day transactions of an MSB where a suspicion can arise and how it should be handled. A sample SAR form is also provided.
What is a Suspicious activity Report ?
Why SAR is Important ?
Filing an SAR Report
Triggers to file an SAR
Tips on how to create a good and effective SAR to save time
A brief introduction on the role and responsibilities of an MLRO while reporting SAR
It is fully online
Easy to understand simple English terms used throughout the course
Scenario-based learning (Examples from day-to-day transactions in an MSB included wherever applicable)
Hassle-free online assessment
Certified course – certificate will be issued on successful completion of assessment at the end of the course.
Essential for a person who is an MLRO in an MSB
Suitable for people connected to the money service business (MSB) – both management and staff members.
Also useful for individuals seeking employment in an MSB.
Chapter 1 - Introduction to SAR - Duration 25 minutes
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Chapter 2 - Reporting SAR to MLRO - Duration 20 minutes
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Chapter 3 - Online SAR to NCA - Duration 60 minutes
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Test Your Skills - 80% score is required to get certified
