AML EXPERTS CALL FOR RETHINK ON USE OF SARs
October 12th, 2022
Suspicious Activity Reports (SARs) are a crucial element in the fight against money laundering, terror finance and other financial crime. But with financial institutions filing defensively and some FIUs flooded with SARs, how can ‘good SARs’ make it to the front lines of law enforcement?
Statistical reports indicate that the number of SARs, (also called suspicious transaction reports - STRs), filed by financial institutions is rising year-on-year. In the USA alone, the number of SARs filed in the USA to the US Treasury’s Financial Crimes Enforcement ...
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