Casey has detected that a customer is transferring funds from her account to individuals in foreign countries with no apparent business or personal connection. How many calendar days does Casey have to file a suspicious activity report (SAR)?

• A. 30 calendar days
• B. 60 calendar days
• C. 90 calendar days
• D. 120 calendar days

Answer: (A)

The key rule is the timing for filing a suspicious activity report. Once an institution detects facts that could constitute suspicious activity, the SAR must be filed within 30 calendar days. In this scenario, transfers to foreign individuals with no apparent connection are a classic red flag, so the report should be filed within 30 days. If more time is needed to gather information, an additional 30 days can be used, for a total of up to 60 days from the initial detection, but the standard deadline is 30 days.