OCC BULLETIN 2007-12
Subject: Bank Secrecy Act/ Anti-Money Laundering
Date: March 14, 2007
To: Chief Executive Officers, BSA Officers, and Compliance Officers of All National Banks, Federal Branches and Agencies, Technology Service Providers, Department and Division Heads, and All Examining Personnel
Description: Notification of Revised Suspicious Activity Report by Depository Institutions (SAR-DI)
On December 21, 2006, the Financial Crimes Enforcement Network (FinCEN) and the federal banking agencies announced that the format for the Suspicious Activity Report by Depository Institutions (SAR-DI) was revised. The revisions are the result of their continuing efforts to reduce paperwork and respondent burden. The form was revised and reformatted to standardize suspicious activity reports, enhance the clarity of instructions, allow for joint filing of Suspicious Activity Reports, and to improve the usefulness of the Suspicious Activity Report to law enforcement.
The revised SAR-DI format was released to allow depository institutions subject to SAR filing requirements to begin initial planning for the effective implementation date of June 30, 2007. On this date, depository institutions will have the option of using either the existing or the revised SAR-DI formats. Use of the revised format for filing will become mandatory December 31, 2007.
Attached is an interagency notification of the release of the revised SAR-DI.
Ann F. Jaedicke