Anti-Money Laundering in a Nutshell: Awareness and Compliance for Financial Personnel and Business Managers

© The Author(s), under exclusive license to APress Media, LLC, part of Springer Nature 2023

K. SullivanAnti-Money Laundering in a Nutshellhttps://doi.org/10.1007/979-8-8688-0066-5_7

7. A SAR Is Born

Kevin Sullivan¹  

(1)

Flowery Branch, GA, USA

 

The Back Story

Getting to Suspicious

Hidden Value of SARs

30/60/90 Rule

Completing the SAR

A fundamentally good SAR narrative should contain the following:

There are some common mistakes that should be recognized:

Here is additional SAR completion information:

Why Financial Institutions Need to File

What Happens After You File

Law Enforcement Contact

Suspicious Activity Report Statistics

Summary

While I was in the money laundering task force in Manhattan, we made it our mission to read every Bank Secrecy Act–related suspicious ...