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Suspicious Transaction Form

BOL user "(not as) new bsa" from an $800 million bank in Northern California posted several BSA PowerPoint training programs. She has also had requests for her SAR worksheet used in her bank's branches. She has provided a copy of one which you can customize and use in your bank.

BOL User Michelle Nuckols, with Pierce Compliance Consultants, Inc., in Rockville, VA, created a tool originally designed for BSA training. It is intended to help tellers, CSRs, loan officers, operations employees, and others to 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 helped that person filing the SAR, determine if there is sufficient cause. The document is then retained and helps support the decision and potentially influences similar decisions in the future.

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.

First published on 03/01/2013

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