Filing SARs for ongoing issues after 90 days is called?

Study for the Certified Bank Secrecy Act Professional Test. Use flashcards and multiple-choice questions with hints and explanations. Get exam ready!

Multiple Choice

Filing SARs for ongoing issues after 90 days is called?

Explanation:
Continuing suspicious activity describes the need to file additional SARs when the same suspicious activity persists or evolves beyond an initial report. If the activity remains ongoing, a bank should submit follow-up SARs to capture new developments and updates, typically at intervals (such as after the ongoing period reaches 90 days) so law enforcement receives timely, evolving information. The other options don’t capture this idea: Safe Harbor isn’t about reporting ongoing activity, a SAR narrative is just the explanatory section of a report, and a specific number of days (like 120) is a timeframe, not the name of the reporting concept.

Continuing suspicious activity describes the need to file additional SARs when the same suspicious activity persists or evolves beyond an initial report. If the activity remains ongoing, a bank should submit follow-up SARs to capture new developments and updates, typically at intervals (such as after the ongoing period reaches 90 days) so law enforcement receives timely, evolving information. The other options don’t capture this idea: Safe Harbor isn’t about reporting ongoing activity, a SAR narrative is just the explanatory section of a report, and a specific number of days (like 120) is a timeframe, not the name of the reporting concept.

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