The Federal Deposit Insurance Corporation published a Financial Institution Letter sharing interagency frequently asked questions from the Financial Crimes Enforcement Network, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the FDIC and the National Credit Union Administration on Suspicious Activity Reports (SARs) and other anti-money laundering (AML) considerations for institutions covered by SAR rules. The FAQs aim to clarify SAR and Bank Secrecy Act (BSA)/AML compliance expectations and focus resources on higher-value reporting for law enforcement and other authorized BSA report users. They cover SAR filing in connection with potential structuring-related activity, continuing activity reviews and the timelines for those reviews, and documentation supporting decisions not to file a SAR. The agencies state that the FAQs do not change existing BSA/AML requirements or create new supervisory expectations, and the FIL applies to all FDIC-supervised financial institutions.
Federal Deposit Insurance Corporation 2025-10-10
US Federal Deposit Insurance Corporation publishes interagency FAQs clarifying Suspicious Activity Report and related AML considerations
The Federal Deposit Insurance Corporation released a Financial Institution Letter containing interagency FAQs on Suspicious Activity Reports (SARs) and anti-money laundering (AML) considerations. The FAQs clarify SAR and Bank Secrecy Act (BSA)/AML compliance expectations, focusing on high-value reporting for law enforcement. They do not alter existing BSA/AML requirements or introduce new supervisory expectations.