The Financial Crimes Enforcement Network (FinCEN) and the federal bank, thrift and credit union regulatory agencies are soliciting comments on the attached proposed changes to the Suspicious Activity Report (SAR) form.
On February 17, 2006, FinCEN and the federal bank, thrift and credit union regulatory agencies issued the attached notice and request for comments in the Federal
Register on proposed changes to the SAR form that is used by depository institutions. The SAR form is being revised and reformatted to standardize it with SARs used by financial institutions in other industries.
The SAR form is also being revised to provide the necessary data items and instructions to complete a SAR jointly filed with another depository institution.
Joint filing is limited to suspicious activities that do not involve insider abuse.
Once finalized, the new form will be required for suspicious activities that are reported after December 31, 2006.
is provided for each of the regulatory agencies – the FDIC, the Federal
Reserve Board, the Office of the Comptroller of the Currency, the Office
Thrift Supervision and the National Credit Union Administration.
Comments should be received by the agencies by April 18, 2006.
Please distribute this information to the appropriate personnel in your institution.
FDIC-Supervised Banks (Commercial and Savings)