Get SARs Right
We've said this before, but FinCEN is still asking. Be sure that your SARs are filled out correctly and effectively. This includes making sure that all information is as complete as possible. Write narratives carefully to provide law enforcement with a good description or explanation of the suspicious activity, including why you think it is suspicious unless that is obvious from the facts. Finally, name all pertinent names. This includes all involved suspects and parties such as beneficiaries, and all institutions that are or may be
involved.
Copyright © 2004 Compliance Action. Originally appeared in Compliance Action, Vol. 9, No. 8, 8/04
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