Suspicious activity report
SAR, suspicious transaction report
Other languages: Deutsch · Français · Español
A report by an obliged entity to the national financial intelligence unit when there are indications of money laundering or terrorist financing.
The recipients are MROS in Switzerland, the FIU at German Customs in Germany, the money laundering reporting office at the Federal Criminal Police Office in Austria and the FIU in Liechtenstein. The client concerned must not be informed about the report.
In practice
A suspicious activity report requires documented enquiries: what was unusual, which information was obtained, and why the suspicion could not be dispelled? In practice, a designated responsible person decides on the report, which is submitted via the national reporting channel. Special duties apply afterwards, in particular the prohibition on informing the client. All documents are kept separately and confidentially.
Distinctions and common mistakes
A suspicious activity report is not an accusation and does not require proof; the threshold set by national law is lower than that. A common mistake is to delay the report until all doubts have been resolved, or to discuss the case with the client in a way that tips them off.
Relevant in: Switzerland · Germany · Austria · Liechtenstein
Related terms
- MROS
- The Swiss Money Laundering Reporting Office within the Federal Office of Police (fedpol); it receives suspicious activity reports from financial intermediaries.
- goAML
- Software developed by the United Nations through which obliged entities submit suspicious activity reports electronically to the financial intelligence units.
- Money laundering reporting officer
- The person at management level responsible for compliance with anti-money-laundering rules; mandatory in Germany for certain obliged entities under section 7 GwG.