WORKSHOP ACTIVITIES Interactive Exercises from the Session
This Workshop on ‘Suspicious Activity Reports and Compliance Inspection Preparedness,’ was held on Friday, 29 August, 2025 at 10:00 AM AST to 2:00 PM AST. Participants gained practical insights on handling Suspicious Activity Reports (SARs), reviewing SARs from both institutional and regulatory perspectives. This hands-on workshop was attended by over 200 professionals from a wide cross section participants from FSCs and FIUs, Central Banks, Financial Institutions and Designated Non-Financial Businesses and Professions.
Test your knowledge of Suspicious Activity Reporting. Explore Key Elements, Internal Controls, Tipping Off, and Regulatory Engagement surrounding SARs.
The ABC Compliance Unit has issued your institution a Notice of Desk-Based Compliance Inspection. Respond to the Notice of Inspection by completing the Compliance Inspection Questionnaire.
You have been appointed to sit on the National AML/CFT Oversight Committee to advise the Ministry of AML Regulation in preparation for the upcoming Mutual Evaluation. What action would you advise?
About the Speakers
This comprehensive one-day training workshop featured esteemed speakers with extensive experience in implementing FATF Standards. Drawing on their vast knowledge and practical experience from various industries, they provide invaluable insights for effective preparation and investigation of Suspicious Activity Reports and improving readiness for compliance inspections.
Mr. Roger Hernandez, MSc
Mrs. Tashel Martin-Jackson, BSc
Heather Moore-Bernard, MBA, BA, AMLCA, AMBCI, CMIRM, GRCP
Submit Your Questions
Submit Your Questions for our Panelists ahead of the Workshop. Your questions will help guide the discussion and ensure sector-specific concerns are addressed during the live session.
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Workshop Agenda
This session will introduce participants to the foundational principles of Suspicious Activity Reports (SARs). It will cover why SARs are vital in the fight against financial crime, their role in supporting investigations by regulators, and the specific legal and regulatory requirements in the Caribbean context.
Participants from reporting entities will benefit from a Simulated Desk Inspection, while a parallel Review and Reflection exercise will be conducted to allow attendees from regulatory agencies to reflect on standards and best practices for reviewing SARs and conducing compliance inspections.
A Certificate of Participation will be issued on completion of the Workshop.
10:00 AM - 10:20 AM - Opening Remarks, Introduction of Speakers, Service of Notice
- This session will commence with brief opening remarks and introduction of the Speakers. During this period, a fictitious Notice of Inspection will be served, setting the tone for the Simulated Desk Inspection which will be conducted later during the Workshop.
10:20 AM - 11:00 PM - Featured Presentation: The Importance of Quality of SARs
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This session will introduce participants to the foundational principles of Suspicious Activity Reports (SARs). It will cover why SARs are vital in the fight against financial crime, their role in supporting investigations by regulators, and the specific legal and regulatory requirements for filing SARs in the Caribbean context. Participants will leave with a clear understanding of the importance of SARs and the obligations they entail.
11:00 PM - 11:30 PM - Practical Exercise: Quiz on How to Craft an Effective SAR
- This interactive session will give participants an opportunity to apply what they have learned. Working with sample scenarios, they will draft SARs, receive feedback, and refine their skills in a supportive, guided environment. This practical exercise is designed to build confidence and competence in SAR preparation.
11:30 PM - 11:45 PM - Lunch Break Video: - Harnessing AI for SARs & Inspections
- This session will explore the transformative role of artificial intelligence (AI) and technology in streamlining compliance efforts, improving efficiency, and enhancing accuracy across the SAR preparation, inspection, and audit processes.
12:00 PM - 1:00 PM - Simulation: Desk-Based Compliance Inspection
- Participants will engage in a simulated compliance inspection to test their readiness. This interactive exercise will provide hands-on experience in responding to regulatory queries and identifying potential gaps in compliance.
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Simulated Desk Inspection
1. A Notice of Inspection & Request for Documents will be issued virtually by the “ABC Compliance Unit” - a fictitious regulatory body which has regulatory oversight for the reporting entities participating in the workshop.
2. Participants will be asked to "submit" the documents requested by creating a folder on their computer and placing the documents in it. Hence, no documents will actually be submitted to us as part of the exercise.
3. Delegates will then be asked to complete a checklist, indicating the documents that they “submitted” in response to the Notice of Inspection.
4. A Request for Clarification will be issued, and Delegates will be taken through a questionnaire containing a series of questions that would typically be asked in a desk compliance inspection. This exercise will provide a real-world inspection preparation, enabling delegates to critically assess their own compliance inspection readiness, identify technical compliance gaps.
5. Upon submission of responses, a Notice of Findings or Deficiencies will be issued and discusses, affording participants further insight into the inspection process.
1:00 PM - 1:30 PM - Addressing Deficiencies Following Compliance Inspections
- This session covers how to respond to inspection findings constructively. Participants will develop strategies to implement corrective actions and strengthen their AML/CFT frameworks effectively.
1:30 PM - 1:50 PM - Question & Answer / Discussion
- This session will offer opportunity for attendees to obtain feedback from the panel. Persons interested in submitting questions ahead of the event may submit their questions using the contact form at the bottom of this page.
1:50 PM - 2:00 PM - Look-Ahead & Closing Remarks
- We will recap the session, request feedback, and let participants know what to expect from our last session in the series which will be held in October on Sanctions Compliance Excellence.