Suspicious Activity Report (SAR) / STR
Definition
A confidential report filed by a reporting entity to the national Financial Intelligence Unit when a transaction or pattern gives rise to a suspicion of money laundering or terrorist financing. Filing is mandatory; disclosing the report to the subject (tipping off) is a criminal offence.
- Filed by
- Reporting entity
- Filed to
- National Financial Intelligence Unit
- Filing status
- Mandatory
- Tipping off
- Criminal offence
Common questions
Why is tipping off a criminal offence rather than just a compliance breach?+
Alerting the subject of an SAR/STR that they are being reported would let them move funds, destroy records, or flee before investigators can act, defeating the purpose of the filing system entirely. Criminalising disclosure protects the integrity of ongoing financial intelligence investigations, not just the reporting entity's internal process.
Does filing an SAR/STR mean the reporting entity has accused the customer of a crime?+
No. The filing reflects the entity's suspicion or reasonable grounds for concern, not a legal finding of guilt, and the report is confidential intelligence passed to the FIU for further analysis. Many SARs/STRs are filed defensively and do not result in any enforcement action against the customer.
Related terms
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