How much do you know about SARs?

You probably know your responsibilities when it comes to Suspicious Activity Reports, but do you know how the numbers add up? Take this 1-minute quiz, based on national SAR filing statistics from the last 10 years.

1. How many SARs were filed by financial institutions in 2005?

a. 522,655
b. 1,650,522
c. 345,620
d. 75,685

2. In 2005, what was the most common suspicious activity reported?

a. Check kiting
b. BSA violations/structuring/money laundering
c. Check fraud
d. Other

3. Between April 1, 1996 and December 31, 2005, what percentage of SARs were filed for BSA violations, structuring and money laundering?

a. 25.30%
b. 48.97%
c. 10.93%
d. 85.22%

4. When was "Terrorist Financing" added to the SAR form?

a. September 2001
b. January 2002
c. April 1996
d. July 2003

5. In most cases, how is the suspect related to the financial institution filing the SAR?

a. Employee
b. Accountant
c. Customer
d. Officer