Board of Governors of the Federal Reserve System |
Federal Deposit Insurance Corporation
National Credit Union Administration
Office of the Comptroller of the Currency
Office of Thrift Supervision
Financial Crimes Enforcement Network
AGENCIES ISSUE REVISED SUSPICIOUS ACTIVITY REPORT FORM (SAR)
The five federal financial institutions supervisory agencies -- the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency and the Office of Thrift Supervision , together with the Financial Crimes Enforcement Network (FinCEN) -- today issued a newly revised Suspicious Activity Report (SAR) form.
Beginning immediately, financial institutions and organizations that are currently required to report suspicious activity pursuant to existing regulations of the federal financial institutions supervisory agencies and FinCEN may use the new SAR form to make these reports. Financial institutions and organizations may continue to use the existing SAR form while their procedures and systems are updated to make use of the new SAR form. However, no versions of the SAR form, other than the new SAR form that is being issued today, will be accepted after December 31, 2000.
The revisions to the SAR form reflect comments from filers and users on how to make the SAR form easier to complete and to provide more useful and timely information. Consistent with this goal, several revisions have been made to the new SAR form being issued today. In addition to modifying the layout of the SAR form for easier use, the agencies have:
Along with the issuance of the new SAR form, a copy of which is attached to this announcement, guidance for the preparation of SAR forms has been prepared and is being distributed with the new SAR form. The guidance provides valuable information on the preparation and filing of SAR forms.
In addition to the new SAR form, new software has been developed and is available to assist in the preparation and filing of SAR forms. The new SAR software, as well as the new SAR form, are available on the web sites of the federal financial institutions supervisory agencies and FinCEN. The web site addresses are: the Board of Governors of the Federal Reserve System, www.federalreserve.gov; the Federal Deposit Insurance Corporation, www.fdic.gov; the National Credit Union Administration, www.ncua.gov; the Office of the Comptroller of the Currency, www.occ.treas.gov; the Office of Thrift Supervision, www.ots.treas.gov; and FinCEN, www.treas.gov/fincen. Each of these web sites will have available the new SAR form, the guidance for the SAR form and the new SAR software or instructions on how to obtain these materials from other web sites.
With the issuance of the new SAR form and SAR software, financial institutions and organizations will be able to file the new form by:
For any questions regarding the newly issued SAR form, financial institutions and organizations should contact their primary federal regulator or FinCEN.
2000 Banking and consumer regulatory policy