Writing A Qualitative Suspicious Transaction Narrative

How to write a qualitative AML Report

Last updated 2022-01-10 | 3.4

- Student will learn what a suspicion is and what a narrative is
- Learn how to explain suspicion in a clear logical process
- Why your suspicious reports (STR/SAR) never make any impart

What you'll learn

Student will learn what a suspicion is and what a narrative is

Learn how to explain suspicion in a clear logical process

Why your suspicious reports (STR/SAR) never make any impart

Learn how to differentiate between good and bad narratives

How to write good opening statements that will capture the reader's attention

Learn how to start and finish writing a qualitative report.

How to measure risks attached to such reports

Learn how to avoid common writing mistakes

* Requirements

* You should have a reasonably good AML/CFT Knowledge.

Description

Most financial and non-financial Institutions struggle with how to send quality Suspicious Transaction Reports (STRs) to the Financial Intelligence Unit (FIUs) mainly because these reports are lacking in the information needed by the analysts or investigators. Most money laundering reporting officers (MLROs) are not skilled or are confused about how to go about the process. This is what this course seeks to address. By sending a qualitative report, the financial institution helps the analysts understand what the suspicion is all about among other reasons.

This is the concluding part of a three-part course namely, “Identifying Suspicious Transactions” and “How to Report Suspicious Transactions under the AML/CFT regime”.

Who this course is for:

Money Laundering Reporting Officers, Compliance Officers
Anti-Money Laundering Trainees, Anti-Money Laundering Instructors
Money laundering certification preppers
Fraud Analysts and Criminal Law students

Course content

2 sections • 11 lectures

Part 1 6 lectures

Course Promo Preview 11:11

Watch a 10 minute overview of the course. This shows a general selection of some of the topics.

Suspicious Transaction Reports (STRs) Preview 08:48

In this lecture you will learn

What a suspicious transaction is

Importance of writing and sending qualitative reports

What an account officer must know ahead of time about a client’s information

How an account officer should explain what a suspicion is and a whole others

Understanding STRs

STRs are not just sent to meet a regulatory obligation. From the earlier lecture you should understand why STRs are sent.

Case Study: Suspicious Transaction Article Preview 02:37

This sanitized article will help you understand how financial crimes take place. You are expected to reflect and apply what you have learnt so far, what method(s) do you think can be added to your list of suspicious transaction indicators as a compliance officer? Let's start identifying these signs to help you develop a compliance standard for our organisation.

Narratives - Elements of a Good Narrative. Preview 11:45

Lecture will cover

Elements of a good narration
Requirements for a good narration
How to explain your suspicious transaction narrative in a logical process

Elements of a good Narrative

Test your ability to know why narratives must be written corrected.

Part 2 5 lectures

Analyzing Different Narratives Preview 10:24

Students should be able to

differentiate between a good and a bad narrative using different sector scenarios
know what attributes to look out for to compose a good narrative

Analyzing Different Narratives - Part B Preview 04:54

A continuation but furthermore students will also be able to

make well informed choices, adequate to address challenging scenarios
take steps to measure risk involved with suspicion
know what supporting documents to provide along with the suspicious transaction report