BSA/AML Examination Manual - ffiec

Enterprise-Wide BSA/AML Compliance Program — Overview
implementation of the BSA/AML compliance program; these solutions typically include,
but are not limited to, monitoring, identifying, and reporting suspicious activity.
Suspicious Activity Reporting
A bank holding company (BHC) or any non-bank subsidiary thereof, or a foreign bank
that is subject to the BHC Act or any non-bank subsidiary of such a foreign bank
operating in the United States, is required to file a Suspicious Activity Report (SAR) (12
CFR 225.4(f)). 141 Certain savings and loan holding companies, and their non-depository
subsidiaries, are required to file SARs pursuant to Treasury regulations (e.g., insurance
companies (31 CFR 103.16) and broker/dealers (31 CFR 103.19)). In addition, savings
and loan holding companies, if not required, are strongly encouraged to file SARs in
appropriate circumstances.
Interagency guidance clarifies that banking organizations may share SARs with head
offices and controlling companies, whether located in the United States or abroad. 142 The
guidance does not address whether a banking organization may share a SAR with an
affiliate other than a controlling company or head office. Therefore, banking
organizations should not share SARs with such affiliates. However, in order to manage
risks across the organization, banks may disclose to entities within their organization the
underlying information supporting a SAR filing. Refer to the core overview section,
“Suspicious Activity Reporting,” page 60, for additional guidance.
141 A BHC’s non-bank subsidiaries operating only outside the United States are not required to file SARs.
142 Interagency Guidance on Sharing Suspicious Activity Reports with Head Offices and Controlling
Companies, issued by Financial Crimes Enforcement Network, Board of Governors of the Federal Reserve
System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and Office of
Thrift Supervision, January 20, 2006.
FFIEC BSA/AML Examination Manual 152 8/24/2007