SIE practice questionmediumReporting AML suspicious activity
When must a SAR be filed if no suspect can be identified?
- AWithin 10 days
- BWithin 60 days✓ Correct answer
- CWithin 90 days
- DWithin 30 days of initial detection
Explanation
Why B — Within 60 days
A SAR is generally due within 30 days of initial detection, but if no suspect has been identified, filing may be delayed while trying to identify a suspect. The delay cannot exceed 60 days after initial detection.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 1,867+ SIE questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Spot an error in this question or explanation? Tell us — we fix these fast.
Related Anti-Money Laundering & Reporting questions
- When a broker-dealer appoints a new AML compliance officer, what must they do?
- Which FINRA rule requires firms to report disciplinary actions against registered representatives?
- If a registered representative is subject to significant disciplinary action, when must customers be notified?
- How frequently must an AML program be independently tested for compliance?
- If a broker-dealer learns of suspicious activity that may involve terrorist financing, they must:
- How often must broker-dealers provide AML training to employees?
- A broker-dealer must report a lost security certificate as missing after how many business days?
- A significant cybersecurity breach at a broker-dealer must be reported to which of the following regulatory authorities?