Do Money Order & Travelers’ Check Issuers Have to Comply with Suspicious Activity Report (SAR) Requirements?

• By: Staff Editor
• Date: December 11, 2011

Yes – issuers of money orders and travelers’ checks are specifically required to report transactions that are suspicious and involve or aggregate funds or assets of at least $5000.

A Suspicious Activity Report or SAR is a compliance requirement for financial institutions covered by anti-money laundering laws such as the Bank Secrecy Act. These reports have to be filed with the Financial Crimes Enforcement Network or FinCEN, a bureau under the US Treasury department that enforces anti-money laundering regulations

How do you write an effective Suspicious Activity Report? Read this article to find out.