An internal audit flags sar reporting and Bank Secrecy Act SAR. Which response best protects compliance?
Correct Answer
B) Do not tell the borrower whether a SAR will be filed
SAR rules require reporting or escalation of suspicious activity and prohibit tipping off subjects. This item uses an exam-style scenario; any file details in the stem are illustrative and the governing rule controls the compliant response. The best answer is "Do not tell the borrower whether a SAR will be filed".
Why This Is the Correct Answer
SAR rules require reporting or escalation of suspicious activity and prohibit tipping off subjects. This item uses an exam-style scenario; any file details in the stem are illustrative and the governing rule controls the compliant response. The best answer is "Do not tell the borrower whether a SAR will be filed".
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