12 CFR 21.11 - Suspicious Activity Report. § 21.11 Suspicious Activity Report. (a)Purpose and scope. This section ensures that national banks file a Suspicious Activity Report when they detect a known or suspected violation of Federal law or a suspicious transaction related to a money laundering activity or a violation of the Bank Secrecy Act.
https://www.law.cornell.edu/cfr/text/12/21.11
SAR Filing Timelines. SARs must be filed within how many days of detecting a suspicious activity? A financial institution is required to file a suspicious activity report no later than 30 calendar days after the date of initial detection of facts that may constitute a basis for filing a suspicious activity report.
https://www.bankersonline.com/qa/sar-filing-timelines
Confidentiality of SARs: A FinCEN Suspicious Activity Report (FinCEN SAR), and any information that would reveal. the existence of the FinCEN SAR (collectively, “SAR information”), are confidential, and may. not be disclosed except as specified in 31 U.S.C. 5318(g)(2) and in FinCEN’s regulations (31 CFR.
https://www.fincen.gov/sites/default/files/shared/FinCEN%20SAR%20ElectronicFilingInstructions-%20Stand%20Alone%20doc.pdf
Financial Crimes Enforcement Network. Electronic Filing Requirements for the FinCEN Suspicious Activity Report (FinCEN SAR) 82.  A BD is not required to file a FinCEN SAR on violations of any of the Federal securities. laws or the rules of a SRO by the BD or any of its officers, directors, employees or other.
https://www.fincen.gov/sites/default/files/shared/FinCEN%20SAR%20ElectronicFilingInstructions-%20Stand%20Alone%20doc.pdf
As of April 1, 2013, this is the only acceptable format for submitting suspicious activity reports to FinCEN. [1] Screenshot of FINCEN SAR Report Generator. A SAR must be filed within 30 days after the date of initial detection of the suspicious activity. Financial institutions are required to keep a copy of the SAR and the original business record of any supporting documentation for five years.
http://hexanika.com/overview-of-sar-suspicious-activity-reporting/
Generally, the. rules provide a financial institution with thirty days from the date of the initial detection. of suspicious activity to file a report, with an additional thirty days if the financial. institution is unable to identify a suspect. Reports are filed on forms developed for each.
https://www.fincen.gov/sites/default/files/guidance/20041214a.pdf
A continuing report should be filed on suspicious activity that. continues after an initial FinCEN SAR is filed. Financial institutions with SAR requirements. may file SARs for continuing activity after a 90 day review with the filing deadline being 120. days after the date of the previously related SAR filing.
https://www.fincen.gov/sites/default/files/shared/FinCEN%20SAR%20ElectronicFilingInstructions-%20Stand%20Alone%20doc.pdf
Law Enforcement Inquiries and Requests. •Include grand jury subpoenas, National. Security Letters (NSL), and 314(a) requests. •Establish policies and procedures for. –Identifying the subject of the request. –Monitoring their transaction activity if. appropriate. –Identifying potentially suspicious activity. and as appropriate when to file a SAR.
http://www.fraudconference.com/uploadedFiles/Fraud_Conference/Content/Course-Materials/presentations/22nd/ppt/2A_Maleka_Ali.pdf
(3)SAR means a Suspicious Activity Report. (c)SARs required. A national bank shall file a SAR with the appropriate Federal law enforcement agencies and the Department of the Treasury on the form prescribed by the OCC and in accordance with the form's instructions.
https://www.law.cornell.edu/cfr/text/12/21.11
If no suspect was identified on the date of detection of the incident requiring the filing, a financial institution may delay filing a suspicious activity report for an additional 30 calendar days to identify a suspect.
https://www.bankersonline.com/qa/sar-filing-timelines
initial detection of suspicious activity
A Suspicious Activity Report must be filed within 30 days after the date of initial detection of the suspicious activity.