| |
(Dec.
21, 2006) -- The Financial Crimes Enforcement Network (FinCEN)
and the federal banking agencies (www.federalreserve.gov)
announced Thursday that the format for the Suspicious Activity
Report by Depository Institutions (SAR-DI) has been revised
to support a new joint filing initiative, which will reduce
the number of duplicate SARs filed for a single suspicious
transaction. The revisions are the result of a joint effort
by FinCEN and the federal banking agencies.
Recently approved by the Office of Management and Budget,
the revised SAR-DI format is being released today to allow
depository institutions subject to SAR filing requirements
to begin initial planning for the effective implementation
date of June 30, 2007. On this date, depository institutions
will have the option of using either the existing or the
revised SAR-DI formats. Use of the revised format for filing
will become mandatory December 31, 2007. The ability to
file using E-Filing, or electronic filing, is currently
being finalized, as are the Magnetic Media Specifications.
This is an approved final form, but the form should not
be filed until the actual effective implementation date
of June 30, 2007.
Financial institutions can review and download the PC fill-in
version (using Adobe Reader or Acrobat) from the FinCEN
website at www.fincen.gov under "What's New." The accompanying
form instructions contain critical "How to" information
for completing the form.
Any questions regarding the revised format may be directed
to the FinCEN BSA Forms Manager via the FinCEN Helpline
at 1-800-949-2732 (option 6) or to the appropriate federal
banking agency.
SOURCE: Federal Reserve Board
|
