The SAR Activity Review Issue 12 - FinCEN

Section 4 – Issues & Guidance
As we have done in previous issues, FinCEN has reviewed recent calls received on
its Regulatory Helpline 9 for the most frequently asked questions about suspicious
activity reporting. In response to ongoing questions regarding definitions
underlying suspicious activity categories, we are re-printing a piece previously
published in SAR Activity Review 7.
In addition, we are taking this opportunity to highlight the recently released
“Suggestions for Addressing Common Errors Noted in Suspicious Activity
Reporting.” This publication is a compilation of useful information which FinCEN
has discovered through its analysis of Money Services Business (MSB) SARs
but should also be informative to other financial institutions. It provides tips for
avoiding common mistakes and suggestions for establishing more efficient and
effective anti-money laundering programs.
http://www.fincen.gov/SAR_Common_Errors_Web_Posting.pdf
Definitions and Criminal Statutes for the
Suspicious Activity Report Characterizations of
Suspicious Activity
In response to requests for an explanation or definition of the various
characterizations of suspicious activity appearing in Item 35 of the depository
institution Suspicious Activity Report form (Form TD F 90-22.47), FinCEN, with
the assistance of members of the Bank Secrecy Act Advisory Group 2 SAR Feedback
Subcommittee, prepared the table appearing on the following pages, which
provides a listing of each category, certain Federal criminal statutes associated
with the violation, and its explanation or definition. Please note that filers may
select more than one type of characterization, if applicable, when completing the
Suspicious Activity Report form. For example, Category C - Check Fraud and
Category D - Check Kiting may be marked, or Category C - Check Fraud and
Category H - Counterfeit Check may be marked.
9 FinCEN’s Regulatory Helpline (800-949-2732) is the primary means for the financial community to
obtain regulatory guidance and answers to specific questions relating to the Bank Secrecy Act.
10 The Bank Secrecy Act Advisory Group is a task force established by Congress to coordinate Bank
Secrecy Act¬related matters. The Bank Secrecy Act Advisory Group is comprised of high-level
representatives from financial institutions, federal law enforcement agencies, regulatory authorities
and others from the private and public sector.