Amar Patel
Concord
Summary
Dynamic Financial Crimes Investigator with extensive experience at Wells Fargo, specializing in fraud investigations and enhanced due diligence. Proven ability to draft comprehensive SARs and conduct thorough analyses using advanced tools like Actimize and LexisNexis. Adept at navigating complex regulatory environments while maintaining strong communication with peers.
Overview
10
10
years of professional experience
Work History
Business Accountability Specialist
Wells Fargo
Charlotte
04.2025 - Current
- Conducted enhanced due diligence on PEP accounts to identify negative news and make informed decisions.
- Reviewed customer profiles through transaction analysis to ensure alignment with profiles.
- Gathered source of wealth and income information to assess individual risk levels.
- Updated SharePoint site to reflect current customer account statuses for initial and ongoing due diligence.
- Collected data from CPUR forms to verify accuracy of client type information.
PPP Loan Fraud Investigator
Cross River Bank
03.2024 - Current
- Conducted deep dive investigations related to PPP loan fraud and identity theft.
- Filed numerous SARs related to fraudulent loan applications.
- Analyzed various tax forms for alterations or fictitious submissions along with gross income that appeared to be inflated for purposes of receiving SBA approved loans.
- Conducted due diligence using open-source research and external databases to verify the legitimacy of the borrower along with the principal being connected to the borrower.
- Drafted clear and concise narratives to explain the fraudulent activity that took place and explanation of the research conducted. Narratives were submitted to the OIG along with SAS VI and SAS AML.
- Drafted clear and concise narratives to explain why fraudulent activity did not take place based on the research conducted and submission of documents by the principal.
Senior Due Diligence Consultant
Wells Fargo
07.2023 - 03.2024
- Conducted periodic reviews of client and trust accounts by conducting Enhanced Due Diligence using various screening methods.
- Drafted and filed SARs related to suspicious activity within client accounts or negative news with a risk-reputation to the Financial Institution.
- Communicated with the Financial Advisor and Branch to gather necessary information on the client account such as source of funds, source of wealth, ownership stake in companies, total net worth, and potential wires to foreign jurisdictions.
- Conducted due diligence for high-risk clients that were affiliated with high-risk jurisdictions and ensured the source of funds and wealth were derived from a legitimate source.
- Utilized Actimize to update alerts with necessary supporting documentation and conduct RFI’s (request for further information).
- Conducted screenings using Dow Jones news, internal SAR filing systems, open-source research, and BSA/CPACS General queue/OFAC related screening tools.
- Updated internal system (Hogan) with information on detailed noted related to the alert and filing once it was closed out.
EDD Investigator P3 (SBA PPP Fraud & ERAP/LRAP)
Guidehouse
09.2021 - 06.2023
- Conducted deep dive investigations related to the Pandemic Loan Fraud by the SBA (Small Business Administration).
- Conducted manual reviews of the SBA Paycheck Protection Program Loans to identify indicia of circumvention of eligibility requirements and/or attributes that may be indicative of noncompliance with eligibility requirements, fraud, or abuse of the PPP.
- Utilized STAR, a proprietary rules engine and case management system designed to provide a virtual space for case review, analysis, documentation, as well as RFP (request for supporting documentation).
- Investigated various types of PPP fraud such as: False pretenses, ghost employees, padded payroll, overstated expenses, loan stacking, fictitious businesses, theft of EINs, falsification of information within the original PPP application, potential decedent application, inactive business, mismatch of TIN, EIN, SSN, Entity names, potential ineligible business size, owner overlap, exceeding maximum loan size, aggregate data mismatch, borrowers with high-risk/disqualified associates, large number of employees at a residential business address, business address that is currently vacant.
- Conducted Triage/Investigations for reviewing initial reasons of referral to MCF for the Emergency Relief Assistance Program.
- Conducted investigations and research related to potential Landlord and Tenant fraud for the State of NY.
- Prepared clear and concise investigation summaries after analyzing evidence and facts related to potential fraud involving ERAP, LRAP and OTDA.
- Reviewed research conducted by the Triage Team and performed additional research and analysis in accordance with the Fraud Team Procedures to determine any indicia of fraud is present and escalation to OTDA is required.
- Used various applicable systems and applications such as: CSR, DocuPhase, GIACT, World Check, Melissa, LexisNexis, and Kiteworks.
EDD Financial Crimes Analyst
MUFG Americas
Charlotte
01.2020 - 09.2021
- Conducted periodic reviews of entities and financial institutions within the KYCR case management system.
- Reviewed transactional data and identify any potential red flags/inconsistencies within a given timeframe.
- Reviewed customer data within the transaction monitoring system against OFAC matches.
- Prepared detailed client narratives in a clear and concise manner.
- Performed due diligence based on the outcome of the Site Visits/Calls as needed.
- Generated a list of proposed questions for AML Advisory to prepare for the customer site visit or customer call.
- Conducted RDC screening in accordance with Bank Policy and Procedures and escalated positive hits to Adverse Findings.
- Analyzed customer risk rating, transaction monitoring, case management, sanction matches, and watchlist screenings.
- Drafted country risk reports based on the geographic area of the entity or financial institution that was under case review.
FIU Analyst – Enterprise-Wide Review
Citi Group
Fort Mill
07.2018 - 01.2020
- Reviewed client’s account activity, statements, internet research, and client information profile.
- Analyzed the completeness and accuracy of the client profile to identify fraudulent activity or trends.
- Maintained ongoing communication with the client manager to obtain all required information.
- Ensured the completed records aligned with business procedures and corporate policy requirements.
- Primary client focus within EWR (enterprise-wide review) involved SPFs (special public figures) and UHNWI (ultra-high net worth individuals).
- Drafted and filed internal suspicious activity reports as required by policy and procedure related to fraudulent activity.
- Completed Citi MSB remediation project which involved conducting FinCEN searches, transaction reviews, client documentation, and escalating potential MSB business activity.
- MSBs included: Zelle, Venmo, Paypal, Xoom, Ria, Western Union, Money Gram, Cash App, Apple Pay.
- Maintained production goals and quality control standards set forth by Citi Group.
- Remained up to date on the constant change in policies and procedures set forth by Citi Group.
Senior Manager - Financial Crimes Office
AXA Equitable
Charlotte
08.2016 - 06.2018
- Conducted transaction monitoring and review of manual red flag escalations that involved fraud.
- Performed in depth investigations of suspicious activity by communicating with an independent broker-dealer.
- Documented investigative steps in detail and organized files and documents used in the investigation process.
- Investigated the following: unusual client activity, e-mail account compromise, elder financial exploitation, or potential market manipulation schemes as identified and escalated from trade surveillance teams, and other investment product risks that could be indicative of potential money laundering.
- Investigated suspicious activity involving suspected money laundering or structuring of financial transactions to avoid government reporting requirements.
- Drafted and completed comprehensive summaries of findings detailing reasons for escalations.
- Prepared case files, drafted SAR narratives and filed SARs per FinCEN filing requirements.
- Manually created 90-day alerts after the filing of a SAR to monitor any new additional accounts or suspicious transactions.
- Followed scripts to perform software testing on a new case management system and recorded noticeable defects.
SAR Writer/OFAC & Sanctions Analyst
IPSA International
Manhattan
02.2016 - 07.2016
- Drafted SARs on suspicious activity accounts belonging to PayPal account holders.
- Reviewed accounts dealing with counterfeit goods, merchant fraud, credit card and buyer fraud, spoof accounts, DDOS attacks, and suspicious money movement.
- SARs were drafted based upon transactional activity and customer relationships in order to report evidence of possible money laundering/terrorist financing.
- Reviewed and drafted an extensive number of SARs for various PayPal accounts.
- Analyzed, cleared, and escalated various OFAC alerts based upon suspicious or nonsuspicious activity.
- Conducted name verifications for various PayPal accounts.
- Used various systems such as Norkom 5.7 and Norkom 6.1.
Education
J. D -
Thomas M. Cooley Law School
05.2011
B.S. - Criminal Justice - Concentration in Forensic Crime Scene Investigation
Virginia Commonwealth University
12.2006
Skills
- Fraud investigations
- Financial Crimes Investigations
- Check Fraud
- Spoof Accounts
- Rapid movement of Money Transfer
- Money Service Business
- Know Your Customer (KYC)
- Bank Secrecy Act
- ERAP/LRAP – Emergency Relief Assistance Program
- SBA PPP Fraud
- SAR Reporting
- System Effectiveness Analysis
- World Compliance Report
- World Check
- Verafin
- Enhanced Due Diligence Research
- Global Program Development
- Regulatory Compliance
- MSB’s and OFAC
- LexisNexis/Bridger
- Clear
- Actimize
- Factiva
- Citi KYC
- Eclipse
- Kiwi
- Axiom
- FircoSoft
- Norkom
Bar License
Maryland, #1309040006, Currently Inactive
Timeline
Business Accountability Specialist
Wells Fargo
04.2025 - Current
PPP Loan Fraud Investigator
Cross River Bank
03.2024 - Current
Senior Due Diligence Consultant
Wells Fargo
07.2023 - 03.2024
EDD Investigator P3 (SBA PPP Fraud & ERAP/LRAP)
Guidehouse
09.2021 - 06.2023
EDD Financial Crimes Analyst
MUFG Americas
01.2020 - 09.2021
FIU Analyst – Enterprise-Wide Review
Citi Group
07.2018 - 01.2020
Senior Manager - Financial Crimes Office
AXA Equitable
08.2016 - 06.2018
SAR Writer/OFAC & Sanctions Analyst
IPSA International
02.2016 - 07.2016
J. D -
Thomas M. Cooley Law School
B.S. - Criminal Justice - Concentration in Forensic Crime Scene Investigation
Virginia Commonwealth University