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Suspicious Activity Report (SAR) Program

Background

This page provides a link that allows banks and other filers prepare and file Suspicious Activity Reports (SAR) with the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S.  Department of the Treasury. Under 12 CFR 21.11, national banks are required to report known or suspected criminal offenses, at specified thresholds, or transactions over $5,000 that they suspect involve money laundering or violate the Bank Secrecy Act. Similar regulations by other regulators apply to other financial institutions.

How to File

As of April 1, 2013, financial institutions must use FinCEN’s BSA E-Filing System in order to submit Suspicious Activity Reports.

A financial institution is required to file a suspicious activity report no later than 30 calendar days after the date of initial detection of facts that may constitute a basis for filing a suspicious activity report. If no suspect was identified on the date of detection of the incident requiring the filing, a financial institution may delay filing a suspicious activity report for an additional 30 calendar days to identify a suspect. In no case shall reporting be delayed more than 60 calendar days after the date of initial detection of a reportable transaction.