Suspicious Activity Report
/səˈspɪʃəs ˈæktɪvɪti rɪˈpɔrt/
Definitions
- (n.) A formal document filed by financial institutions to report knowledge or suspicion of suspicious or potentially illicit activity under anti-money laundering laws.
The bank filed a suspicious activity report after detecting an unusual transaction.
Forms
- suspicious activity report
- suspicious activity reports
Related terms
See also
Commentary
Often mandated by national regulations, SARs play a crucial role in detecting and preventing financial crimes, and must be filed promptly and accurately to comply with statutory obligations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.