Suspicious Activity Reports should be filed within which timeframe?

• A. 15 calendar days
• B. 60 calendar days
• C. 30 calendar days
• D. 90 calendar days

Answer: (C)

The key idea is the reporting timeline for Suspicious Activity Reports (SARs). Financial institutions must file a SAR within 30 calendar days after the date on which suspicious activity is first detected. That means once staff notice facts that may indicate money laundering or other illicit activity, the clock starts, and the SAR should be submitted within 30 days. This 30-day rule is the standard requirement to ensure timely reporting to authorities. There can be allowances for extending the filing period in some situations where more information is needed, potentially up to 60 days, but the default and most commonly tested rule is 30 days.