Financial Crimes Enforcement Network Suggestions for Addressing Common Errors in SARS Reporting

Bank Secrecy Act (BSA)Financial Crimes Enforcement Network (FINCEN)Anti-Money Laundering

The Financial Crimes Enforcement Network ("FinCEN") has noticed common errors in the filing of Suspicious Activity Reports ("SARs"). Although these errors were noted primarily through studying Suspicious Activity Reports by Money Services Business (Form 109) filings, we believe that publishing an explanation of ten of the most common errors and ways much of them readily can be mitigated could be informative to financial institutions in other industries in their efforts

> Read entire regulation (log in required - registration is free)