Subject: |
Bank Secrecy Act/ Anti-Money Laundering |
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Description:
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Notification of Revised Suspicious Activity Report by Depository Institutions (SAR-DI) |
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Date: March 14, 2007 |
TO: |
Chief Executive Officers, BSA
Officers, and Compliance Officers
of All National Banks, Federal Branches and Agencies, Technology Service Providers, Department and Division Heads, and All Examining Personnel.
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On December 21, 2006, the Financial Crimes
Enforcement Network (FinCEN) and the federal banking agencies
announced that the format for the Suspicious Activity Report by
Depository Institutions (SAR-DI) was revised. The revisions are the
result of their continuing efforts to reduce paperwork and
respondent burden. The form was revised and reformatted to
standardize suspicious activity reports, enhance the clarity of
instructions, allow for joint filing of Suspicious Activity Reports,
and to improve the usefulness of the Suspicious Activity Report to
law enforcement.
The revised SAR-DI format was released to allow depository institutions subject to SAR filing requirements to begin initial planning for the effective implementation date of June 30, 2007. On this date, depository institutions will have the option of using either the existing or the revised SAR-DI formats. Use of the revised format for filing will become mandatory December 31, 2007.
Attached is an interagency notification of the release of the revised SAR-DI.
/signed/
Ann F. Jaedicke
Deputy Comptroller for Compliance Policy
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Attachments:
·
FinCEN Notification
[http://www.fincen.gov/press_release_12212006.pdf]
·
SAR-DI
form
[http://www.fincen.gov/fincen_form111.pdf]
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