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Suspicious transaction report (STR)

A Suspicious Transaction Report (also called a Suspicious Activity Report or SAR in some jurisdictions) is a confidential document filed with regulators when financial institutions detect potentially illegal or suspicious transactions.

About Suspicious transaction report (STR)

What triggers a suspicious activity report?

Triggers include large cash deposits, unusual transaction patterns, activity inconsistent with known business profiles, or attempts to evade reporting thresholds. Money laundering and terrorist financing red flags often initiate filings.

When must a SAR report be filed?

Filing timelines vary by country but are typically within 24 to 72 hours of detecting the suspicious activity. Staff must escalate concerns to a designated compliance officer or Money Laundering Reporting Officer (MLRO).

What happens when a SAR is filed?

The report is submitted to a Financial Intelligence Unit (like FinCEN in the U.S.). It may prompt further investigation or law enforcement action. Businesses must maintain secrecy informing the person in question is illegal and may result in penalties.

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