SAR data is the basis for much of the published statistical record on payment fraud in the United States, including FinCEN's financial trend analyses on business email compromise and mail theft related check fraud.
Filing is an institution obligation, not a customer one, and the existence of a SAR cannot be disclosed to the subject. For a defrauded business, the practical reporting path is the bank, the FBI IC3, and law enforcement.
Common questions
Can a business file a suspicious activity report?
No. Filing is an obligation of financial institutions. A defrauded business reports to its bank and to the FBI IC3.
Why does SAR data matter for fraud research?
It is one of the few sources describing incident mechanics at national scale, and FinCEN publishes trend analyses derived from it.
Primary sources
Citing this entry? Cite as Coffr, LLC and link to https://getcoffr.com/glossary/suspicious-activity-report.