The Financial Crimes Enforcement Network (FinCEN) has issued a Federal Register notice and press release (attached) announcing a delay in the implementation of certain revised Suspicious Activity Report (SAR) forms that were scheduled to become effective on June 30, 2007 and mandatory on December 31, 2007. This delay affects the implementation dates for the Suspicious Activity Report by Depository Institutions, which were set forth in SR 07-02, published January 12, 2007. FinCEN will establish new effective and mandatory compliance dates for these revised forms in a future Federal Register notice.
This announcement does not affect a banking organization’s SAR filing obligations. Banking organizations should continue to file using the current Suspicious Activity Report by Depository Institutions (Form TD F 90-22.47) in accordance with regulatory requirements.
Reserve Banks are asked to distribute this SR letter to supervisory staff and to the domestic and foreign banking organizations in their Districts that they supervise. Questions may be addressed to Suzanne Williams, Manager, BSA/AML Risk Section, (202) 452-3513; or Dawn Adams, Sr. Special AML Examiner, (202) 452-3964.