Does anyone have something that lays out more clearly when you need to file a SAR? We had a customer A that reported another customer B was trying to confuse them into giving them access to their bank account. Both are our customers. Customer B who was reported as trying to commit fraud only had about $500 with our bank. Would this not need a SAR filed then because it is under the $5000 limit. I was told that unless he has violated the law and the amount of the violation is over $5,000 or he is committing mortgage fraud, which we do not know, no SAR would need to be filed? I am new to this and need some guidance. Thanks!

A SAR is not necessary. But you should always document your reasons for not filing a SAR.

Does anyone have a copy of what they consider to be acceptable documentation for suspicious activity or want to share how they track it and decide whether to file or not.

I'm not sure you will find a "list" of SAR filing reasons. If there were one it would probably read like the Federal Register.
We use our Prez, CFO and myself (BSA Officer) as a SAR Committee. Policy says we may also use counsel if we need to. Most communications are e-mail and I keep them all as well as notes of all my phone calls. We report the facts only to the BOD for all filings.
The committee, the filings and the non-filings were praised by FDIC. I marked it on the calendar.

Thanks that is helpful. We report ours to the board as well. I guess I was wondering what documentation you hold onto for your own purposes when you investigate.

I also found this website link which is good for SAR.

http://www.fincen.gov/narrativeguidance_webintro.pdf