SAR Key Terms
Posted by Anthony Demangone
A few days ago, FinCEN announced the release of a study that measured the affects of recent changes to BSA CTR exemption requirements.  I wrote about that yesterday.  Buried in the press release was news that FinCEN had released additional guidance for SARs.  From time to time, FinCEN had asked that SAR filers include certain terms in the SAR narrative.  The new guidance consolidates the various requests.
FinCEN today also published a consolidated list of suspicious activity report (SAR) key terms, designed to provide a quick reference for compliance professionals. From time to time, FinCEN has issued guidance to financial institutions requesting that they include certain key terms, such as "foreclosure rescue scam" in their SAR narratives. These terms enable law enforcement and regulatory investigators to more easily search and utilize these SARs.
Here's that consolidated list.