Suspicious Activity/Transaction Report (SAR/STR)
Overview
A Suspicious Activity Report (SAR) or Suspicious Transaction Report (STR) is a formal filing made to a financial intelligence unit (FIU) when unusual or suspicious activity is detected. Reports help regulators investigate potential money laundering, terrorist financing, or fraud. must file SARs/STRs promptly, with detailed information about the parties, transacInstitutionstions, and reasons for suspicion. Regulators expect strong internal reporting frameworks, escalation processes, and employee training to ensure red flags are properly identified and filed. Filing SARs is a legal obligation under AML laws worldwide, and failure to do so can result in regulatory action. Banks, fintechs, and insurers maintain secure systems for filing SARs/STRs and preserving audit trails.
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FAQ
What is a SAR/STR?
A report submitted to FIUs detailing suspicious financial activity.
Why are they mandatory?
They provide intelligence for regulators to investigate financial crime.
When must they be filed?
As soon as suspicion arises — delays can lead to penalties.
Who files them?
Compliance teams in banks, fintechs, and other regulated entities.