Suspicious Activity Report (SAR)

What this video covers

• The exact $5,000 threshold for broker-dealers and how structuring (deliberately evading reporting) aggregates transactions to trigger a SAR even when individual amounts stay below the line
• The critical differences between a SAR and a Currency Transaction Report (CTR): $5,000 versus $10,000, any suspicious transaction type versus physical cash only, FinCEN filing for both
• The proper reporting chain: registered representative detects, reports to the anti-money laundering compliance officer (AMLCO), and the firm files; the representative never contacts FinCEN directly
• The 30-calendar-day deadline when a suspect is identified and the 60-calendar-day deadline when no suspect is identified, and why internal investigations do not pause either clock
• Why a 10-day answer choice always refers to Office of Foreign Assets Control (OFAC) blocked-transaction reporting, never to SARs
• The absolute tipping-off prohibition: no confirmation, no denial, no hint to the customer that a SAR was filed, and the exclusive list of parties who may be notified
• Why filing a SAR does not require closing the customer's account, and how the firm must continue normal business operations while authorities investigate