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SAS Comm. Meeting of June 2712, Typed Sat Aug 1112BF / Edited Draft until Approved at next meeting.(Draft) Minutes / Action Items Student Assessment Committee Meeting CHAIR DATESTUDENT ASSESSMENT
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SAS COMM stands for Suspicious Activity Report (SAR) Compliance Monitoring and Management.
Financial institutions, including banks, credit unions, and money services businesses, are required to file SARs.
SARs can be filled out electronically through the Financial Crimes Enforcement Network's (FinCEN) Web-based BSA E-Filing System.
The purpose of SARs is to report suspicious activities that may indicate money laundering, terrorist financing, or other financial crimes.
SARs must include information about the suspicious activity, the individuals involved, and any other relevant details.
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