Ep19: What are Suspicious Activity Reports (SARs) and When and Who Should File a SAR?

A suspicious activity report (SAR) is filed by a financial institution and other professionals that alert law enforcement to suspicious transactions with possible links to money laundering or terrorism financing. filing SARs or their equivalent provides governments with visibility into transactions that otherwise would go undetected. In the U.S., FinCEN receives electronic copies of SARs via the Bank Secrecy Act E-Filing System. Many institutions require the submission of SARs to the organization’s money laundering reporting officer (MLRO).

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