Suspicious Transaction Reports (STRs)

Suspicious Transaction Reports (STRs) are documents that financial institutions, like banks, file when they detect unusual or potentially illegal activity involving a customer's transactions. These reports help authorities identify money laundering, fraud, or suspicious behavior. When a bank sees transactions that seem abnormal – either in size, frequency, or context – it files an STR to alert regulatory bodies. This process is part of broader efforts to ensure financial systems are not used for criminal activities, protecting both the institution and the economy. STRs are confidential and are reviewed by law enforcement for possible investigation.