The Financial Crimes Enforcement Network has begun to accept thenew Currency Transaction Reports and Suspicious Activity Reportselectronically into FinCEN's BSA E-Filing System.
|Credit unions without Internet access are exempt until March 31,2013, but other credit unions and other financial institutions willneed to begin to file the reports by July 1 of this year, FinCENsaid Friday.
|The center also said the new SARswill be able to accept attached spreadsheet files.
|“The new SAR will accept a single, comma-separated value (CSV)attachment as part of the report,” FinCEN wrote in guidance aboutthe electric filing. “The CSV is a standard Microsoft file formatthat aids in reporting tabular data into a file format. Thiscapability allows an institution to include data (such as specificfinancial transactions and funds transfers or other analytics),which is more readable and usable in this format than it would beif otherwise included in the narrative.”
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