Certificate in SAR and STR Reporting

Course details

A suspicious transaction report (STR) or a suspicious activity report (SAR) is submitted by a bank or even a financial institution, to the local financial regulatory body or financial intelligence unit if there are reasonable grounds to believe that the transaction is related to criminal activity.

A suspicious transaction is a transaction which has apprehension or mistrust about the person or group of persons involved or its unusual nature or circumstances.

Why should one take Certificate in SAR and STR Reporting?
The SAR / STR reporting aims to identify individuals, groups and organizations involved in fraud like terrorist financing, money laundering, and other crimes. It is mandated for compliance by financial institutions and banks. SAR/STR reporting has gained prominence due to increased terrorist activities across the globe.

Vskills Certificate in SAR and STR Reporting provides a hands-on approach in developing SAR and STR reports as well as understand the nuances of AML and CFT as well.

The certification attests to your understanding and applying skills and knowledge in SAR and STR reporting and helps you to stand out amongst your peers to help in gaining better career prospects.  
The certification covers

• CFT Basics
• SAR/ STR reports and relevance
• Writing effective SAR Narrative
• Post-SAR

Who will benefit from taking Certificate in SAR and STR Reporting?
Professionals, managers, executives working in AML-KYC or SAR/STR reporting domain of financial institutions, banks, delivery centers of  MNC financial institutions will benefit immensely by opting for Vskills Certificate in SAR/STR reporting to gain an edge in the CFT skills and be noticeable amongst their colleagues as well as make progress in their respective careers.

Students taking the certification also gain by showcasing their understanding of SAR/STR reporting and are able to increase their job opportunities.
 
Benefits of Certification

• Government certification
• Certification valid for life
• Lifelong e-learning access
• Free Practice Tests

 
How It Works

1. Select Certification & Register
2. Receive Online e-Learning Access (LMS)
3. Take exam online anywhere, anytime
4. Get certified & Increase Employability

Test Details

• Duration: 60 minutes
• No. of questions: 50
• Maximum marks: 50, Passing marks: 25 (50%).
• There is NO negative marking in this module.
• Online exam.

 
TABLE OF CONTENT

Money Laundering Basics

• What is Money Laundering?
• Process of Money Laundering
• Money Laundering Methods
• Politically Exposed Persons
• Money Laundering – Case Studies
• Prevention of Money Laundering Act, 2002 (PMLA)
• RBI Guidelines regarding AML
• AML-KYC International Legislation and Cooperation
• Money Laundering Risks
• Money Laundering Risk Assessment
• The three lines of defence

CFT Basics and Relevance

• What is a Financial Crime?
• What is Combating the Financing of Terrorism (CFT)?
• Process of Combating the Financing of Terrorism (CFT)
• Combating the Financing of Terrorism (CFT) International Initiatives
• Money Laundering and CFT
• Financial Intelligence Units (FIUs)
• Information Sharing under FATF Recommendations

SAR/ STR Reports and Relevance

• What is a SAR (Suspicious Activity Report)?
• SAR International Regulations
• What is STR (Suspicious Transaction Report)
• Suspicious Activity vs. Suspicious Transaction
• SARs / STRs Relevance
• Transaction Monitoring Basics
• Suspicious Transaction Indicators or Red Flags
• Name Screening
• STR Reporting
• SAR Reporting
• Time to Submit STR/SAR to FIU
• FIU-IND’s Cash Transaction Reporting (CTR)
• FIU-IND’s Counterfeit Currency Reporting (CCR)
• FIU-IND’s Account Based Data Files
• FIU-IND’s Transaction Based Data Files
• Using Microsoft Excel for Suspicious Transaction and Activity Detection

Writing Effective SAR Narrative

• How to writing effective SAR/STR Narrative
• Developing Complete and Sufficient SAR
• STR/SAR Report Essential Components
• SAR Narrative Structure
• Tips for Effective SAR Writing
• SAR/STR Report Filing Challenges
• SAR/STR Report Filing Do’s and Don’ts
• SAR/STR Report Submission

Post-SAR

• Suspicion Evaluation and Confirmation
• Who Should Create SAR Reports?
• Documenting Reporting Decisions
• SAR/STR Confidentiality
• STR Decision-Making Process
• Closing or Freezing the Account
• Communicating with Law Enforcement on STRs

Updated on 14 June, 2024