Suspicious Activity Report (Saf-Sf) Instructions printable pdf download

FinCEN Form 101a

Suspicious Activity Report (SAR-SF) Instructions

ii.

A violation otherwise required to be

Safe Harbor Federal law (31 U.S.C. 5318(g)(3))

transaction (or a pattern of transactions of which

reported on a SAR-SF: (a) of any of the federal

provides complete protection from civil liability

the transaction is a part):

securities laws or rules of an SRO by the BD or

for all reports of suspicious transactions made to

i. Involves funds derived from illegal activity or

any of its officers, directors, employees or other

appropriate authorities, including supporting docu-

is intended or conducted in order to hide or disguise

registered representatives, other than a violation

mentation, regardless of whether such reports are

funds or assets derived from illegal activity

of 17 CFR 240.17a-8 or 17 CFR 405.4, so long

filed pursuant to this report’ s instructions or are

(including, without limitation, the ownership,

as such violation is appropriately reported to

filed on a voluntary basis. Specifically , the law pro-

nature, source, location, or control of such funds or

the SEC or an SRO; or (b) under the CEA (7

vides that a financial institution, and its directors,

assets) as part of a plan to violate or evade any

U.S.C. 1 et seq.) , the regulations of the CFTC

officers, employees, and agents, that make a dis-

federal law or regulation or to avoid any transaction

(17 CFR Chpt.1), or the rules of any RF A or RE

closure of any possible violation of law or regula-

reporting requirement under federal law or

as those terms are defined in the CEA, 7 U.S.C.

tion, including in connection with the preparation

regulation;

21 and 7 U.S.C. 1a(29), by the FCM or IB-C or

of suspicious activity reports, “shall not be liable

any of its officers, directors, employees or

to any person under any law or regulation of the

ii. Is designed, whether through structuring or

associated persons, other than a violation of 17

United S tates, any constitution, law , or regulation

other means, to evade any requirements of 31 CFR

CFR 42.2 as long as such violation is

of any State or political subdivision of any State, or

103 or of any other regulations promulgated under

appropriately reported to the CFTC or a RF A or

under any contract or other legally enforceable agree-

the Bank Secrecy Act, Pub. L. 91-508, as amended,

RE.

ment (including any arbitration agreement), for such

codified at 12 U.S.C. 1829b, 12 U.S.C. 1951-1959,

disclosure or for any failure to provide notice of

and 31 U.S.C. 5311 - 5314, 5316 - 5332;

6.The Bank Secrecy Act requires financial institu-

such disclosure to the person who is the subject of

tions to file currency transaction reports (CTRs) in

such disclosure or any other person identified in

iii. Has no business or apparent lawful purpose or

accordance with the Department of the Treasury’s

the disclosure.”

is not the sort in which the particular customer

implementing regulations (31 CFR Part 103). These

would normally be expected to engage, and the BD,

regulations require a financial institution to file a

Notification Prohibited Federal law (31 U.S.C.

FCM or IB-C knows of no reasonable explanation

CTR whenever a currency transaction exceeds

5318(g)(2)) provides that a financial institution,

for the transaction after examining the available

$10,000. If a currency transaction exceeds $10,000

and its directors, officers, employees, and agents

facts, including the background and possible purpose

and is suspicious, the institution must file both a

who, voluntarily or by means of a suspicious activ-

of the transaction; or

CTR (reporting the currency transaction) and a

ity report, report suspicious transactions to the

suspicious activity report (reporting the suspicious

government, may not notify any person involved

iv. Involves use of the BD, FCM or IB-C to

aspects of the transaction). If a currency transac-

in the transaction that the transaction has been

facilitate criminal activity .

tion is $10,000 or less and is suspicious, the institu-

reported.

tion should only file a suspicious activity report.

3. The obligation to identify and properly and

Appropriate records must be maintained in each

In situations involving

violations that re-

timely report a suspicious transaction rests with

case.

quire immediate attention,

such as terror-

each BD, FCM, and IB-C involved in the transaction,

ist financing or ongoing money laundering

provided that no more than one report is required

See: 31 CFR Part 103; 17 CFR 240.17a-8; 17 CFR

schemes, the financial institution shall im-

to be filed by any of the BDs, FCMs, or IB-Cs

405.4; 17 CFR 42.2

mediately notify by telephone an appropri-

involved in a particular transaction (so long as the

ate law enforcement authority in addition

report filed contains all relevant facts).

filing a timely suspicious activity report.

4. A SAR-SF shall be filed no later than 30 calendar

General Instructions

When to file a report

days after the date of the initial detection by the

A. Abbreviations and Definitions

reporting BD, FCM, or IB-C of facts that may

constitute a basis for filing a SAR-SF . If no suspect

1. Every broker or dealer in securities (BD), futures

1. AKA--

also known as (individual)

is identified on the date of such initial detection, a

commission merchant (FCM), and introducing

2. ASE--

American Stock Exchange

BD, FCM, or IB-C may delay filing a SAR-SF for an

broker in commodities (IB-C) within the United

3. BD--

Broker or Dealer in Securities

additional 30 calendar days to identify a suspect,

States shall file with FinCEN, to the extent and in

4. CBOE-- Chicago Board Options Exchange

but in no case shall reporting be delayed more than

the manner required by 31 CFR 103.19 and 103.17,

5. CBOT-- Chicago Board of Trade

60 calendar days after the date of such initial

a report of any suspicious transaction relevant to a

6. CME--

Chicago Mercantile Exchange

detection. In situations involving violations that

possible violation of law or regulation. A BD, FCM

7. CPO--

Commodity Pool Operator

require immediate attention, such as terrorist

or IB-C may also file with FinCEN a report of any

8. CRD--

Central Registration Depository

financing or ongoing money laundering schemes,

suspicious transaction that it believes is relevant to

9. CFTC-- Commodity Futures Trading

the BD, FCM, or IB-C shall immediately notify by

the possible violation of any law or regulation but

Commission

telephone an appropriate law enforcement

whose reporting is not required by 31 CFR 103.19

10. CTA--

Commodity Trading Advisor

authority in addition to filing timely a SAR-SF .

or 103.17. A voluntary filing does not relieve a BD,

11. CUSIP

-- Committee on Uniform Securities

BDs, FCMs, or IB-Cs wishing voluntarily to report

FCM or IB-C from the responsibility of complying

ID Procedures

suspicious transactions that may relate to terrorist

with any other reporting requirements imposed by

12. DEA--

Drug Enforcement Administration

activity may call FinCEN’ s Financial Institutions

the Securities and Exchange Commission (SEC),

13. DBA--

doing business as (entity)

Hotline at 1-866-556-3974 in addition to filing

the Commodity Futures Trading Commission

14. EIN--

Employer Identification Number

timely a SAR-SF. The BD, FCM, or IB-C may also,

(CFTC), a self-regulatory organization (“SRO”) (as

15. EUREX--European Exchange

but is not required to, contact the SEC or the CFTC

defined in section 3(a)(26) of the Securities

16. FBI--

Federal Bureau of Investigation

to report in such situations.

Exchange Act of 1934, 15 U.S.C. 78c (a)(26)), or

17. FCM--

Futures Commission Merchant

any registered futures association (RF

A) or

18. FINRA-- Financial Industry Reg. Auth.

registered entity (RE) as these terms are defined in

5. Exceptions. A BD, FCM, or IB-C is not

19. IA--

Investment Adviser

the Commodity Exchange Act (CEA) 7 U.S.C. 21

required to file a SAR-SF to report:

20. IB-C--

Introducing Broker-Commodities

and 7 U.S.C. 1a(29).

21. ICE--

Immigration & Customs Enforc.

i. A robbery or bur glary committed or attempted

22. IRS--

Internal Revenue Service

2. A transaction requires reporting if it is conducted

that is reported to appropriate law enforcement

23. ITIN--

Individual taxpayer ID number

or attempted by , at, or through a BD, FCM or IB-C,

authorities, or for lost, missing, counterfeit, or

24. ISID

International S ecurities I D Direct.

it involves or aggregates funds or other assets of at

stolen securities with respect to which the BD

25. KCBOT- Kansas City Board of Trade

least $5,000, and the BD, FCM, or IB-C knows,

files a report pursuant to the reporting

26. LIFFE-- London International Financial

suspects, or has reason to suspect that the

requirements of 17 CFR 240.17f-1;

Futures Exchange

Catalog No. 35351G

Rev. 03/31/09

Suspicious Activity Report (Saf-Sf) Instructions

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