SAR filing when activity has ceased.

Answered by:

Question:

We’ve been filing continuing SARs on a business for money laundering. The business has closed, and the activity no longer continued. Must we notify FinCEN that the activity ceased?

Answer:

No. There is not a regulatory requirement to notify FinCEN or file a final SAR to notify FinCEN that suspicious activity has ceased.
--------------------------
Learn more about Robin Guthridge’s A to Z SAR Completion Guide
webinar.