U.S. Suspicious Activities Report Discloses International Trends

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Thursday, February 1, 2001
Author: 
Bruce Zagaris
Volume: 
17
Issue: 
2
45
Abstract: 
In October 2000, the Bank Secrecy Act Advisory Group, a joint government-private sector group, published for the first time the Suspicious Activities Report (SAR) Review: Trends Tips & Issues. Significantly, the report reflects a number of important trends with respect to international money laundering enforcement in the U.S. The report is the result of a continuing collaboration among the U.S.’s financial institutions, federal law enforcement, and regulatory agencies to provide meaningful information about the preparation, use and utility of SARs filed by financial institutions. The publication reflects the recognition of both the relevant government agencies and the country’s financial institutions of the desirability of a continuing public exchange of information about the SAR System and its results…[more]