An institution’s Board of Directors is tasked with providing management an oversight of an institution’s BSA/AML/CFT program. The Board can’t carry out their duties without information and one of the requirements surrounding Suspicious Activity Reports is that …the management of a bank shall promptly notify its board of directors, or a committee thereof, of any report filed pursuant to this section…. Keep in mind, however, this isn’t to ask the Board’s permission to file a SAR, it’s simply a heads up that a SAR was filed.
Kevin explains more in the video.
Published 2026/05/07