On February 15, 2017, FinCEN publishes a notice in the Federal Register requesting comments on a proposed update and revision to the collection of information filed by banks in a SAR. Most of these changes would be in Part II (Suspicious Activity Information). The good news is the proposal states there are no new regulatory requirements or triggering requirements related to SARs. However, because new data fields will be added to the SAR form this likely will […]
