SAR (Suspicious Activity Reports)

Suspicious Activity Reports (SARs) are documents financial institutions submit to authorities when they detect transactions or behaviors that might indicate illegal activities like money laundering, fraud, or terrorist financing. These reports help regulators monitor and investigate potentially unlawful actions while protecting the integrity of the financial system. SARs are confidential and are used exclusively by law enforcement and regulators to identify patterns or conduct that warrants further inquiry, ensuring the industry’s compliance with legal requirements and aiding in the prevention of financial crimes.