In financial regulation, a Suspicious Activity Report (SAR) is a report made by a bank or financial institution about suspicious or potentially suspicious activity.
The criteria to decide when a report must be made varies from country to country, but generally is any financial transaction that does not make sense to the financial institution; is unusual for that particular client; or appears to be done only for the purpose of hiding or obfuscating another, separate transaction. The report is filed with that country’s financial crime enforcement agency, which is typically a specialist agency designed to collect and analyze transactions and then report these to relevant law enforcement.
For example, Coinfirm’s SARs employs over 270 risk analysis indicators to build a comprehensive SAR.
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