FinCEN SARs
After doing your case investigation, you may decide that a transaction, or series of transactions, or a pattern of entity behavior, is irregular enough to warrant filing a FinCEN report.
Filing a suspicious activity report is the last logical step in the case management component of the Unit21 system.
Unit21 brings increased efficiency to SAR reporting by automating tasks associated with generating, completing and direct e-filing SARs.
Below are some key features
- Customizable workflows to create a SAR from a case
- Automatic population of SAR filing fields
- Case entities info gets translated to subjects
- Case transaction info gets translated to suspicious activity
- Preconfigured filing and financial institution data
- Ability to define workflows to fill out, collaborate, review and submit filings
- Automatic submission of filings to FinCEN
Unit21 attempts to automate as much of the report filing as possible; filing on behalf of your organization directly through our dashboard.
Simply head over to the Report Filing page on your dashboard:
Here is the general SAR workflow, click on the links below to learn more about each step:
| Step | Action | Status |
|---|---|---|
| 1 | Agent creates a SAR | - In progress |
| 3 | Agent optionally reviews a SAR with team members | - In review |
| 4 | Agent files SAR to FinCEN | - Submitting |
| 5 | FinCEN sends Report status and bsa_tracking_id | - Submission accepted |
| 6 | FinCEN sends bsa_id if SAR has been ACCEPTED | - Submission successful |
| 7 | Agent optionally files a CAR | - Submission successful |
1. If your SAR is accepted but you later find a mistake, you can amend or correct it.
2. If your SAR is rejected, you must fix it and file again.
3. If your SAR is accepted with warnings, you must fix it and re-submit.
Updated 5 months ago