Compliance

SAR

Definition

Suspicious Activity Report - a document financial institutions must file when they detect suspicious transactions that may indicate money laundering or fraud.

Concepts

Related Terms

STR AML FinCEN threshold

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AML

Anti-Money Laundering - laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.

Beneficial Owner

The natural person who ultimately owns or controls a legal entity, typically someone with 25% or more ownership.

BSA

Bank Secrecy Act - US federal law requiring financial institutions to assist government agencies in detecting and preventing money laundering.

Capital Requirements

Minimum capital for financial institutions.

CDD

Customer Due Diligence - the process of collecting and analyzing customer information to assess risk and prevent financial crimes.

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Resources

Related Resources

Saudi Riyal (SAR) Currency Calculator

USD to SAR Calculator - Convert US Dollar to Saudi Riyal

EUR to SAR Calculator - Convert Euro to Saudi Riyal

GBP to SAR Calculator - Convert British Pound to Saudi Riyal

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