Filing Requirements for Suspicious Activity Reports

Bank Secrecy Act (BSA)
GuidanceNational Credit Union Administration (NCUA)Risk Management

Please note that the following rule is the version that was approved by the NCUA Board. The official version is published in the Federal Register approximately one week after Board approval. There may be some minor numbering or format differences between the two versions.

The proposed rule describes in greater detail the requirements for reporting and filing a Suspicious Activity Report (SAR) and addresses prompt notification of the board of directors of SAR filings, the confidentiality of reports, and liability protection. NCUA also proposes to change the heading for this part so it more accurately describes its scope. While retaining cross-references in the rule to the SAR form and instructions, these changes will enhance credit union compliance by providing greater detail in the rule on the thresholds and procedures for filing a SAR.

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