Regulatory AlertsSR 21-2: Answers to Frequently Asked Questions Regarding Suspicious Activity Reporting and Other Anti-Money Laundering Considerations
The Board of Governors of the Federal Reserve System, alongside other federal banking agencies and FinCEN, issued this guidance to clarify Suspicious Activity Report filing requirements and anti-money laundering compliance processes. The document provides answers to industry questions derived from discussions within the Bank Secrecy Act Advisory Group, aiming to enhance understanding of existing legal obligations without altering regulatory standards. Federal Reserve Banks are instructed to distribute this letter to supervised institutions to ensure consistent application of these clarifications across their districts.
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