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Suspicious Transaction Form
BOL User Michelle Nuckols, with Pierce Compliance Consultants, Inc. in Rockville, VA, created a tool originlly designed for BSA training. It is intended to help tellers, CSRs, loan officers, operations employees, and others compile their thoughts and pass along adequate information so that a SAR may be filed accurately, and in a timely manner.
As it evolved, the document helps that person filing the SAR, determine if there is sufficient cause. The document is then retained and helps support the decision and potentially influence similar decisions in the future.
Suspicious Activity Investigative Report Form
In response to an examiner's recommendation, Allan Virr, BOL Advisory Roundtable member, developed this form for all investigations, regardless of whether or nor a SAR is filed.
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