The Financial Crimes Enforcement Network (FinCEN) issued frequently asked questions (FAQs) on issues related to suspicious activity reports (SARs). The FAQs clarify regulatory requirements relating to structuring, continuing activity reviews, and a bank’s decision not to file a SAR. Scott Bessent stated, “These are commonsense yet consequential reforms that will ease regulatory burdens without undermining law enforcement efforts.” Links to both the press release from FinCEN and the frequently asked questions PDF are included below.
