BSA/AML Examiner Training Series 2

SUSPICIOUS ACTIVITY REPORTS- 12 CFR Part 208.62 Reg H (Continued)

Code

Failure to maintain confidentiality of SARs Section 208.62(j) requires that a member bank SuspiciousActivity Reports be kept confidential. Failure to file SAR in accordance with form’s instructions Section 208.62(i) requires that a member bank file a complete Suspicious Activity Report with the appropriate federal law enforcement agencies and the Department of the Treasury, in accordance with the form’s instructions, by sending a completed SAR to FinCEN in the circumstances described in sections 353.3(a)(1) to 353.3(a)(4). Failure to file SAR for insider abuse involving any amount Section 208.62(c)(1) requires that a member bank file a SAR whenever the bank detects any known or suspected federal criminal violation committed or attempted against the bank or involving a transaction conducted through the bank, where the bank believes it was an actual or potential victim of a criminal violation, or that the bank was used to facilitate a criminal transaction, and the bank has a substantial basis for identifying one of the bank’s directors, employees, agents, or other institution- affiliated parties as having committed or aided in the commission of the criminal violation, regardless of the amount involved in the violation. Failure to file SAR for transactions aggregating $5,000 or more where a suspect canbe identified Section 208.62(c)(2) requires that a member bank file a SAR whenever the bank detects any known or suspected federal criminal violation committed or attempted against the bank or involving a transaction or transactions conducted through the bank, and involving or aggregating $5,000 or more in funds or other assets, where the bank believes it was either an actual or potential victim of a criminal violation, or that the bank was used to facilitate a criminal transaction, and the bank has a substantial basis for identifying a possible suspect. Failure to file SAR for transactions aggregating $25,000 or more regardless ofpotential suspects Section 208.62(c)(3) requires that a member bank file a SAR whenever the bank detects any known or suspected federal criminal violation committed or attempted against the bank or involving a transaction conducted through thebank, involving or aggregating $25,000 or more in funds or other assets, where the bank believes it was either an actual or potential victim of a criminal violation, or that the bank was used to facilitate a criminal transaction, even though the bank has no substantial basisfor identifying a possible suspect.

81,006

81,007**

81,008**

81,010**

81,011**

Revised 5/3/2023

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