BREAKING DOWN 'Suspicious Activity Report - SAR'. SARs and the other provisions of the BSA are part of the anti-money laundering statutes and regulations, which have become much stricter since 2001. The customer is not told that an SAR is being filed.
http://www.investopedia.com/terms/s/suspicious-activity-report.asp
Some of the cases prosecuted in 2005 using SAR data included a Ponzi scheme, real estate fraud and an insurance fraud case, according to a report by FinCEN. Drug traffickers were also convicted as a result of information provided by financial institutions.
http://money.cnn.com/2006/08/09/news/economy/banks_secrecy/
Since 1996, banks have been required to file a Suspicious Activity Report (SAR) whenever they detect a suspicious transaction of $5,000 or more that could involve potential money laundering or terrorist financing, said Candice Pratsch, a spokeswoman for the Financial Crimes Enforcement Network (FinCEN), the arm of the Treasury Department in charge ...
http://money.cnn.com/2006/08/09/news/economy/banks_secrecy/
Currency Transaction Report - CTR. DEFINITION of 'Currency Transaction Report - CTR'. A bank form used in the United States to help prevent money laundering. The form must be filled out by a bank representative who helps with a currency transaction of $10,000 or more. BREAKING DOWN 'Currency Transaction Report - CTR'.
http://www.investopedia.com/terms/c/ctr.asp
One of the tools provided under the Bank Secrecy Act (BSA) as a way of monitoring suspicious activities that would not ordinarily be flagged under other reports (such as the currency transaction report.) Suspicious activity reports can cover almost any activity that is out of the ordinary, if that activity gives rise to a suspicion that the account ...
http://www.investopedia.com/terms/s/suspicious-activity-report.asp
Along with the issuance of the new SAR form, guidance for completing SAR forms has been prepared and is being distributed with the new SAR form. Figure 1A shows the dates of symptom onset of the 1,755 SARS patients detected in Hong Kong in 2003.
http://acronyms.thefreedictionary.com/SAR
Suspicious activity report. In financial regulation, a Suspicious Activity Report (or SAR) is a report made by a financial institution about suspicious or potentially suspicious activity.
https://en.wikipedia.org/wiki/Suspicious_activity_report
Deleted the requirement to identify whether an SAR is an Initial Report, Corrected Report, or Supplemental Report. On these facts, the Service ruled in Letter Ruling 9147031 that the SARs were not options or other similar interests for purposes of the ownership change rules of Sec.
http://financial-dictionary.thefreedictionary.com/SAR
SAR. 1  The ISO 4217 currency code for the Saudi Arabian Riyal. 2  ISO 4217 code for the Saudi Arabian riyal. It became the official currency of the Kingdom at its establishment in 1932; it is the successor currency to the Hejaz riyal. Between 1986 and 2003, the riyal was pegged to Special Drawing Rights, but in practice, this was effectively a peg to the U.S. dollar.
http://financial-dictionary.thefreedictionary.com/SAR
John Hall, spokesman for American Bankers Association, said the banking industry is sensitive to the privacy concerns of its consumers - but that banks have to balance that with their reporting requirements.
http://money.cnn.com/2006/08/09/news/economy/banks_secrecy/
what is an sar in banking
A Suspicious Activity Report is a report made by a financial institution about suspicious or potentially suspicious activity.   In banking, Suspicious Activity Report is a report made by a financial institution about suspicious or potentially suspicious activity.