If the activity occurred at additional branch locations, then that information would be entered in Items 64 — 70, and would be repeated as many times as necessary. In Part IV, the filing institution should enter the name of the office that should be contacted to obtain additional information about the report. A single depository institution with multiple branches files their SARs out of the home office of the depository institution.
In this scenario, Part IV would be completed with the information of the home office of the depository institution, and then a Part III would be completed for the depository institution location where the activity occurred.
If the activity occurred at additional branch locations of the depository institution, then that information would be entered in Items 64 — 70, and would be repeated as many times as necessary.
In Part IV, the filing institution should enter the name of the contact office that should be contacted to obtain additional information about the report. Part IV would be completed with the information of the depository institution that is filing the SAR. If the activity occurred at additional branch locations of the MSB, then that information would be entered in Items 64 — 70, and would be repeated as many times as necessary. The filing institution must include joint filer contact information in Part V, along with a description of the information provided by each joint filer.
If a reporting financial institution has agents where the suspicious activity occurred, a separate Part III must be prepared on each agent. An agent is an independent financial institution such as a supermarket that sells money orders or an independent insurance agent that has a contractual relationship with the reporting financial institution to conduct financial transactions.
Do not place agent information in branch fields. The filing institution should enter the name of the office that should be contacted to obtain additional information about the report. Financial institutions wanting to report suspicious transactions that may relate to terrorist activity should call the Financial Institutions Toll-Free Hotline at 7 days a week, 24 hours a day. The purpose of the hotline is to expedite the delivery of this information to law enforcement.
Financial institutions should immediately report any imminent threat to local-area law enforcement officials. Item 29 records the total amount involved in the suspicious activity for the time period of the SAR.
Multiple amounts will be aggregated and the total recorded in Item This requirement applies even when the amounts involve different transaction types, such as when some are deposits and some are withdrawals. All amounts are aggregated and recorded as the total amount. If some amounts are known and some are unknown, the known amounts are aggregated and the total is recorded in Item Unknown amounts are explained in the narrative.
Explain in the narrative why the amount or amounts are unknown. How do I meet my underlying obligation to submit a complete and accurate report if my filing software does not allow me to include known information for a field without an asterisk?
To do so, a supervisory user first must: 1. Select the general user whose access roles require updating. Where can I save a report being filed electronically?? What are my recordkeeping requirements when I submit a file electronically?
Complete the report in its entirety with all requested or required data known to the filer. What is the filing timeframe for submitting a continuing activity report? A suspicious activity report SAR is a tool provided under the Bank Secrecy Act BSA of for monitoring suspicious activities that would not ordinarily be flagged under other reports such as the currency transaction report.
The SAR became the standard form to report suspicious activity in SARs can cover almost any activity that is out of the ordinary.
An activity may be included in the SAR if the activity gives rise to a suspicion that the account holder is attempting to hide something or make an illegal transaction. The SAR is filed by the financial institution that observes suspicious activity in an account.
FinCEN is a division of the U. The financial institution has the responsibility to file a report within 30 days regarding any account activity they deem to be suspicious or out of the ordinary. An extension of no more than 60 days may be obtained, if necessary to collect more evidence. The institution does not need proof that a crime has occurred. The client is not notified that a SAR has been filed regarding their account. FinCen requires the SAR forms filed by financial institutions to identify the five essential elements of the suspicious activity being reported:.
In addition, the method of operation or, how is the activity being carried out? SARs are part of the United State's anti-money laundering statutes and regulations, which have become much stricter since The Patriot Act significantly expanded SAR requirements as part of an effort to combat global and domestic terrorism.
The goal of the SAR and the resulting investigation is to identify customers who are involved in money laundering, fraud, or terrorist funding. Disclosure to the customer, or failure to file a SAR, can result in very severe penalties for both individuals and institutions.
SARs allow law enforcement to detect patterns and trends in organized and personal financial crimes. This way they can anticipate criminal and fraudulent behavior and counteract it before it escalates.
The requirements under the anti-money laundering statutes were significantly expanded again, as of January 1, , with the enactment of the Anti-Money Laundering Act of In the United States, financial institutions must file a SAR if they suspect that an employee or customer has engaged in insider trading activity.
A SAR is also required if a financial institution detects evidence of computer hacking or of a consumer operating an unlicensed money services business. SAR filings must be kept for five years from the date of the filing. In numerous instances, SARs have enabled law enforcement authorities to initiate or pursue major investigations in money laundering or terrorist financing, and other criminal cases. Some of the common patterns of suspicious activity identified by the Financial Crimes Enforcement Network are as follows:.
Albert has been a client for nearly five years and has an established account history and very predictable transactions. An antenna of that size is not practical for a satellite sensor in space. Hence, scientists and engineers have come up with a clever workaround — the synthetic aperture. In this concept, a sequence of acquisitions from a shorter antenna are combined to simulate a much larger antenna, thus providing higher resolution data view geometry figure to the right.
Radar sensors utilize longer wavelengths at the centimeter to meter scale, which gives it special properties, such as the ability to see through clouds view electromagnetic spectrum to the right.
The table below notes the band with associated frequency, wavelength, and the application typical for that band. Wavelength is an important feature to consider when working with SAR, as it determines how the radar signal interacts with the surface and how far a signal can penetrate into a medium. For example, an X-band radar, which operates at a wavelength of about 3 cm, has very little capability to penetrate into broadleaf forest, and thus mostly interacts with leaves at the top of the tree canopy.
An L-band signal, on the other hand, has a wavelength of about 23 cm, achieving greater penetration into a forest and allowing for more interaction between the radar signal and large branches and tree trunks. Wavelength doesn't just impact the penetration depth into forests, but also into other land cover types such as soil and ice.
For example, scientists and archaeologists are using SAR data to help "uncover" lost cities and urban-type infrastructures hidden over time by dense vegetation or desert sands.
Radar can also collect signals in different polarizations, by controlling the analyzed polarization in both the transmit and receive paths. Polarization refers to the orientation of the plane in which the transmitted electromagnetic wave oscillates.
While the orientation can occur at any angle, SAR sensors typically transmit linearly polarized. The horizontal polarization is indicated by the letter H, and the vertical polarization is indicated by V. The advantage of radar sensors is that signal polarization can be precisely controlled on both transmit and receive. Signals emitted in vertical V and received in horizontal H polarization would be indicated by a VH. Alternatively, a signal that was emitted in horizontal H and received in horizontal H would be indicated by HH, and so on.
Examining the signal strength from these different polarizations carries information about the structure of the imaged surface, based on the following types of scattering: rough surface, volume, and double bounce view figure below. Strong scattering in HH indicates a predominance of double-bounce scattering e.
It is important to note that the amount of signal attributed to different scattering types may change as a function of wavelength, as wavelength changes the penetration depth of the signal.
For example, a C-band signal penetrates only into the top layers of the canopy of a forest, and therefore will experience mostly roughness scattering mixed with a limited amount of volume scattering.
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