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Simple English definitions for legal terms

suspicious-activity report

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A quick definition of suspicious-activity report:

A suspicious-activity report is a form that financial institutions have to fill out and send to the government if they think a crime has happened during a money transaction. It replaced two older forms, the criminal-referral form and the suspicious-transaction report. The abbreviation for this form is SAR.

A more thorough explanation:

A suspicious-activity report is a form that financial institutions must fill out and send to federal authorities if they suspect that a federal crime has taken place during a monetary transaction. This form is abbreviated as SAR and was introduced in 1996, replacing two earlier forms: the criminal-referral form and the suspicious-transaction report.

Here are some examples of situations that might require a suspicious-activity report:

  • A bank teller notices that a customer is making several large cash deposits in a short period of time, and the customer seems nervous or evasive when asked about the source of the funds.
  • A financial advisor becomes aware that a client is investing a large amount of money in a business that seems to have no clear purpose or revenue stream.
  • A credit card company receives multiple applications from individuals using the same address and Social Security number, suggesting that someone may be attempting to commit identity theft.

In each of these cases, the financial institution has reason to suspect that a federal crime may be taking place, such as money laundering, fraud, or terrorism financing. By submitting a suspicious-activity report, the institution can help law enforcement agencies investigate and prevent these crimes.

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14:39
@BigStrongBug: i saw that bug, they buggin!!!
renard99
14:39
I also got Penn WL
14:40
@Ineedabadbleep: american does not update on lawhub
@cumsock: 3.6 UGPA and 164 LSAT
cumsock
14:40
wow congrats was that rd
@cumsock: i also had rlly good recs and good personal statement, also extensive resume
14:40
@Ineedabadbleep: okay we are stats twins kinda (if u count urm boost)
[] starfishies
14:40
they said ed earlier
Trismegistus
14:40
god i hope i evade this R or I will spiral aha
14:41
do u think we will get into emory bleep
ReminiscentZestyFish
14:41
Some of these Penn WL's got crazy stats
cumsock
14:41
maybe i shouldve ed'd somewhere fook
[] starfishies
14:41
does bc offer scholly in the A email?
jackfrost11770
14:41
Oh I got WL, I didn't see it in the status. Wild lmfao no one's getting off it I guess
lilypadfrog
14:42
wow huge penn wave. I think i applied too late to be in this
@jackfrost11770: penn waitlist?
14:42
lilypad when did u apply
14:42
i am dreading the penn r
@PuppyBot: oh ok makes sense
renard99
14:43
@jackfrost11770: It's traditionally tough to get off it but not impossible. Their waitlist isn't ranked so it's certainly within reach if you're interested enough
lilypadfrog
14:43
@ChowieBean: end of nov
i applied nov. 15 lily
or 12th
renard99
14:43
Also Jack ik you and I haven't talked in a bit but we have similar stats, backgrounds, WE. If you ever want solace in this messy process text me on Discord
14:44
im still in the queue to be reviewed for penn so
lilypadfrog
14:44
@SplitterusClitterus: I applied like two weeks later. It was one of my last apps
jackfrost11770
14:44
I mean I think you're more likely to get WL than R at UPenn lmao, I'm taking it as an R whatever
ReminiscentZestyFish
14:45
Tru
GreyCeaselessMammoth
14:45
notHim at it again
14:45
notHim is a born WINNER
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