Which information should be provided to the Board of Directors or a designated specialized committee when preparing a Suspicious Activity Report (SAR) report summary?

The correct answer is D. Statistical data regarding SARs filed during the reported period.. SAR information is highly sensitive, and institutions must follow strict confidentiality rules to protect investigations and avoid "tipping off" customers. Option D (Correct): Statistical summaries (e.g., the number of SARs filed, trends, typologies) help the Board monitor AML ri

AML/CFT Compliance Programs

Question

Options

AAll possible details of SARs filed during the reporting period.
BCopies of all SARs filed during the reported period.
CNames of all customers subject to SARs filed during the reported period.
DStatistical data regarding SARs filed during the reported period.

How the community answered

(45 responses)

A
2% (1)
B
4% (2)
C
9% (4)
D
84% (38)

Explanation

SAR information is highly sensitive, and institutions must follow strict confidentiality rules to protect investigations and avoid "tipping off" customers. Option D (Correct): Statistical summaries (e.g., the number of SARs filed, trends, typologies) help the Board monitor AML risks without disclosing confidential details.

Topics

#SAR board reporting#SAR governance#statistical reporting#compliance reporting

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