Suspicious Activity Report
SAR
A Suspicious Activity Report is a report filed by financial institutions to notify authorities of potentially suspicious transactions. It is a key tool for detecting money laundering and fraud.
SAR filings are confidential and are typically required when activity appears inconsistent with a customer's profile. In the U.S., SARs are filed with FinCEN under BSA rules.
Related Terms
AML
Anti-Money Laundering
AML refers to the laws, regulations, and procedures designed to prevent criminals from disguising il...
BSA
Bank Secrecy Act
The BSA is a US law requiring financial institutions to assist government agencies in detecting and ...
FinCEN
Financial Crimes Enforcement Network
FinCEN is a bureau of the U.S. Treasury focused on combating financial crime. It collects and analyz...
KYC
Know Your Customer
KYC is the process financial institutions use to verify the identity of their customers. It's a key ...
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