SAR Timing

Posted By: DerrickAuditor

SAR Timing - 12/26/08 09:48 PM

I understand that a SAR should be filed no later than 30 days after the date of initial detection. If no suspect was identified, the filing of the SAR may be delayed an additional 30 days.

We had an insider who worked just two weeks and was terminated for providing false information on their application (employment application said one name - background results came up with a different name - and this name had a long criminal record).

Should the SAR have been filed within 30 or 60 days of learning that the employee provided false information? I think 30 because we had a suspect (just not certain of their real name) and we could have listed both names (application name and name from the FBI fingerprint results), but I'm getting feedback from management that because we didn't know the insider's true identity initially, we had 60 days. Thoughts?
Posted By: JacF

Re: SAR Timing - 12/29/08 02:53 PM

I'm in agreement with you on 30 days.
Posted By: WonderWoman

Re: SAR Timing - 12/29/08 06:32 PM

30 Days from the date you knew they provided incorrect information ...