The deadline for filing a suspicious activity report is:

The correct answer indicates that the deadline for filing a suspicious activity report (SAR) is set at 30 days after the initial detection of suspicious activity. Under federal regulations, financial institutions are required to file SARs with the Financial Crimes Enforcement Network (FinCEN) when they detect activities that could indicate money laundering, fraud, or other illicit activities.

Filing within 30 days allows institutions to ensure that they are capturing all pertinent information about the suspicious activity while still maintaining a timely response to potential criminal conduct. This timeframe ensures that financial institutions can conduct their internal investigations adequately and gather all necessary documentation before submitting the report.

In contrast, other options present inaccurate timelines for filing a SAR. For instance, the idea that a report should be filed five business days after detecting suspicious activity may not give institutions enough time to thoroughly evaluate the situation and compile the necessary details for an effective report. The misconception that the filing deadline involves calendar days instead of business days could also lead to misunderstandings about the urgency and timing required for compliance. Lastly, the notion of waiting 30 days post-determination of evidence of illegal activity does not align with the regulatory expectation, as action is required based on the detection rather than requiring conclusive proof before filing.