Final answer:
Suspicious Activity Reports (SARs) must be filed with the Financial Crimes Enforcement Network (FinCEN) by financial institutions as part of the anti-money laundering regulations under the Bank Secrecy Act.
Step-by-step explanation:
Suspicious Activity Reports (SARs) are essential tools for monitoring possible financial crimes and are typically filed with the Financial Crimes Enforcement Network (FinCEN), which is a bureau of the U.S. Department of the Treasury. The purpose of SARs is to report known or suspected instances of money laundering or fraud. This protocol is a requirement for financial institutions including banks, broker-dealers, and money services businesses under the Bank Secrecy Act (BSA). It is important for these institutions to comply with SAR filing requirements as part of a comprehensive anti-money laundering (AML) program.