Suspicious Activity Reports can be submitted to which agency?

Suspicious Activity Reports can be submitted to which agency?

• A. FinCEN
• B. Securities and Exchange Commission (SEC)
• C. Consumer Financial Protection Bureau (CFPB)
• D. Federal Trade Commission (FTC)

Answer: (A)

Suspicious Activity Reports are filed with FinCEN, the Financial Crimes Enforcement Network, which is part of the U.S. Treasury. The Bank Secrecy Act requires financial institutions to report suspicious activity to FinCEN so it can monitor and analyze potential money laundering or terrorist financing. This is the designated channel for SARs, serving as the central repository for such reports and enabling coordinated enforcement. The SEC, CFPB, and FTC oversee other aspects of the financial system—securities markets, consumer financial products, and general consumer protection, respectively—so they are not the recipients for SAR submissions.

Suspicious Activity Reports are filed with FinCEN, the Financial Crimes Enforcement Network, which is part of the U.S. Treasury. The Bank Secrecy Act requires financial institutions to report suspicious activity to FinCEN so it can monitor and analyze potential money laundering or terrorist financing. This is the designated channel for SARs, serving as the central repository for such reports and enabling coordinated enforcement. The SEC, CFPB, and FTC oversee other aspects of the financial system—securities markets, consumer financial products, and general consumer protection, respectively—so they are not the recipients for SAR submissions.