What is a suspicious transaction report?

A Suspicious Transaction Report (STR) is filed with the Financial Intelligence Unit when a specific transaction is suspected of involving the proceeds of crime or terrorist financing. In some jurisdictions, STRs and SARs are used interchangeably; in others, STRs relate specifically to transactions while SARs cover broader suspicious activity.

When to file an STR

Regulated businesses must file an STR when they have reasonable grounds to suspect that a transaction involves criminal proceeds or is related to terrorist financing. Suspicion can arise from screening results, unusual transaction patterns, or inconsistencies identified during CDD. Failure to file is a criminal offence in most jurisdictions.

Related terms