AML & Financial Crimes FAQs.
Find answers to common questions about anti-money laundering (AML), from what triggers a transaction review to how investigators document their findings. You’ll also find an overview of Leslee Byron’s experience in financial services and AML.
Frequently Asked Questions.
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Anti-money laundering, or AML, refers to the processes financial institutions use to detect, investigate, and report potentially suspicious financial activity.
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Leslee Byron, founder of Byron Law PLLC, has more than 20 years of experience in financial services. Her AML background includes investigations, transaction monitoring, suspicious activity report writing and review, and quality assurance.
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Transaction monitoring involves reviewing financial activity for unusual patterns. A review may consider the timing, frequency, or amounts of transactions alongside the account’s history and expected activity.
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An alert flags activity for review. It might have a reasonable explanation, or it might raise questions that warrant a closer look. Reviewing the activity in context helps determine the next step.
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An investigator typically starts with the activity that raised concern and reviews related transactions, account information, and other available records. The case file documents what was reviewed, what the investigator found, and how those findings informed the decision.
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A Suspicious Activity Report, or SAR, is a report a financial institution files to notify authorities about activity that meets applicable reporting criteria. Its narrative explains the activity, the circumstances, and the facts that led to the report.
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A clear narrative explains who was involved, what happened, when it happened, and why the activity raised concern. It puts key events in order and connects each finding to the records that support it.
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A quality assurance review checks whether the case file is complete, the reasoning is easy to follow, and the evidence supports the conclusion. It can also identify gaps or inconsistencies that need further review.
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Transaction monitoring helps identify activity that may need review. An investigation examines the activity in more detail to understand what happened and document the reasoning behind the next step.
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Use the Contact page to send Leslee a brief overview of your inquiry. Include your organization, if applicable, and the area of AML or financial crimes work you’d like to discuss.
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Get in Touch With Leslee.
If you have a question about Leslee’s AML and financial crimes experience, send a brief note about what you’d like to discuss.