SAR Filing - Who Makes the Call?

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Question:

When it comes to SAR filing, who should make the final decision to file? The President, Board of Directors or the BSA officer?

Answer:

There is no one right answer to this question. It depends on your institution, management, structure, and risk. Your BSA program should stipulate what your process is for reviewing suspicious activity and making a SAR determination is.

First published on BankersOnline.com 8/24/09