STR (Suspicious Transaction Report)
A report an accountable institution is legally required to file with the FIC when it has reasonable grounds to suspect a transaction is connected to money laundering or terror financing.
An STR is a report an accountable institution is legally required to file with the FIC when it has reasonable grounds to suspect a transaction is connected to money laundering or terror financing, regardless of whether the transaction actually goes ahead.
The obligation to report exists independently of everything else in FICA. Even a fully verified, fully documented client relationship doesn’t excuse a business from filing an STR the moment something about a specific transaction looks wrong.
See it in practice, not just in theory.
Read how Lucere handles this on features, check the FAQ for common questions, or get started.