Tax Evasion and Tax Fraud - What it means to you when monitoring BSA and filing SARs


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This training on BSA compliance will help you understand the concept of tax evasion and tax fraud and the difference between the two. Learn the best practices to identify tax fraud and how to report suspicious activity.

Topic Background:

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:

  • April 2, 2013 Dolce & Gabbana Designer furious over $440 million tax evasion fine
  • March 29, 2013 Stephen Baldwin pleads guilty in tax case, ordered to pay $400 K back taxes
  • March 14, 2013 Olathe businessman pleads guilty to tax evasion
  • March 15, 2013 Mechanicsburg man charged with tax evasion
  • April 6, 2013 Wesley Snipes released from prison after tax evasion
  • March 26, 2013 Michigan theater owner gets year in prison for tax evasion

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.

Areas Covered in the Webinar:
  • Resources.
  • What’s the difference? Tax Evasion vs Tax Fraud
  • Why do I care?
  • Definitions
  • Why it matters
  • Global Tax Evasion
  • The Swiss Connection
  • Tax Havens
  • Ties to Money Laundering and Terrorism
  • FATCA. Foreign Account Tax Compliance Act
  • Identity Theft and Tax Fraud
  • FinCEN & Red Flags

Who Will Benefit:

  • Financial Officers
  • Bank Secrecy Act Officers
  • Front Line Staff
  • Risk Officers
  • Operational Managers
Webinar Events
Live -Coming soon!

Training CD-DVD

Physical CD-DVD of recorded session will be despatched after 72 hrs on completion of payment


Recorded video

Recorded video session




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