During the years following the September 11th terrorist attack on the United States, governments around the world are creating the means and the organizations which create difficulties to those involved in the financing of terrorist activities.  One of the elements used in the fight against money laundering and other forms of financial corruption is the Suspicious Activity Report.  This has become one of the most important and one of the most valuable tools, as the reports will allow the proper law enforcement agencies access to the information that will serve to further their investigations.

Throughout the world, criminals have been laundering money, for decades, as a way to conceal their criminal activities.  Such activities include the trafficking of drugs, financial fraud such as tax evasion and scams, and even the funding of terrorist cells.  To not address the activity of money laundering, is to allow the criminals free reign to keep on conducting their business, giving power to the drug dealers, the arms dealers and the terrorists which threaten the lives of innocent citizens on a daily basis.  Not stopped, their criminal gains will look legitimate through the process of laundering the funds.

Suspicious Activity Reports should be filed when a company or an individual suspects that the funds being deposited, or when certain transactions are suspected to revolve around such illegal and criminal activity.  Aspects to look out for are really common sense situations.  If money deposited smells like chemicals or has a strange odor or if a young kid walks into a bank with a bag full of money, attempting to deposit it and set up a wire transfer.

If one notices that a customer is sending and receiving transfers of large sums of money to and from various individuals.  Certain amounts of cash transactions require employees to fill out Currency Transaction Reports, and it goes without saying, that should a customer attempt to bribe an employee to not fill out the report, that would warrant the filing of an SAR.  Human behavior plays a large role, and noticing signs of fraudulent activities can save the institution from loss of integrity and possible criminal connections to those committing the crimes.