Bank Secrecy Act for Frontline Employees: 03. Suspicious Activity Reports

At the most basic level, regulatory compliance is all about risk management. In this course, we'll discuss one important way to manage risks when it comes to money laundering: the suspicious activity report, or SAR. These are documents that financial institutions must file with the Financial Crimes Enforcement Network, or FinCEN. We'll talk about what circumstances require these documents, go over who can file them, and list what information should be included. We'll also cover the confidentiality requirements of suspicious activity reports, what happens if you're wrong in filing a SAR, and some other general rules of filing these reports.