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Simple English definitions for legal terms

suspicious-transaction report

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A quick definition of suspicious-transaction report:

Term: Suspicious-Transaction Report

Definition: A form that banks and other financial institutions used to have to fill out if they noticed a transaction that seemed suspicious. This could mean that someone was trying to hide money or avoid paying taxes. The form was replaced by a newer form called the Suspicious-Activity Report.

Abbreviation: STR

A more thorough explanation:

A suspicious-transaction report is a form that banks and other financial institutions use to report transactions that may be related to a violation of the Bank Secrecy Act or its regulations. It may also suggest money-laundering or tax evasion.

Formerly known as IRS Form 4789, this report includes a checkbox that financial institutions can use to indicate that a transaction is suspicious. However, this checkbox has been replaced by the suspicious-activity report.

Suppose a customer comes into a bank and tries to deposit a large sum of money in cash without providing any explanation for where the money came from. The bank may file a suspicious-transaction report to alert authorities to the possibility of money-laundering or other illegal activity.

Another example could be a customer who frequently deposits large sums of money into their account from different sources, but never withdraws any money. This could be a sign of money-laundering, and the bank may file a suspicious-transaction report.

These examples illustrate how a suspicious-transaction report can help financial institutions identify potentially illegal activity and report it to the appropriate authorities.

suspicious character | suthdure

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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