What does SAR stand for in this context?

• A. Suspicious Activity Report.
• B. Systematic Administrative Review.
• C. Security Authorization Request.
• D. Strategic Activity Record.

Answer: (A)

Suspicious Activity Report is the formal filing financial institutions submit to FinCEN under the Bank Secrecy Act when they detect activity that may involve money laundering or terrorist financing. This report helps regulators and law enforcement identify and investigate potential illicit activity by sharing details about the indicators, the parties involved, and the transactions observed. It captures who was involved, what occurred, when and where it happened, and why the activity looked suspicious, including red flags and any supporting documentation. The other terms refer to administrative reviews, security requests, or strategic records, which are not used to report suspected financial crimes.