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14648EXTENSIONS OF Remarked, Ms. About, Mr. BROWN of California, Mr. RANGE, and Mr. COR MAN): H. R. 14779. A bill amending the U.S. Housing Act of 1987; to the Committee on Banking and Currency. By
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Ser ms stands for Suspicious Activity Report (SAR) and is a document that financial institutions must file with the Financial Crimes Enforcement Network (FinCEN) to report suspicious transactions.
Financial institutions such as banks, credit unions, and money services businesses are required to file SARs.
To fill out a SAR, financial institutions must provide detailed information about the suspicious activity, including the individuals involved, the nature of the activity, and any supporting documentation.
The purpose of SARs is to help detect and prevent money laundering, terrorist financing, and other financial crimes.
Financial institutions must report information such as the names of the individuals involved, a description of the suspicious activity, and any supporting documentation.
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