Glossary > Suspicious activity reports (SARs)
Financial institutions and VASPs must file SARs in certain jurisdictions. SARs inform law enforcement agencies of an activity suspected to be related to money laundering, terrorism financing, or fraud. These reports are useful for LEAs to monitor financial-related activities that could represent risks and threats for the country.
VASPs can use crypto transactions monitoring tools such as Scorechain’s to detect potentially illegal activity and report it to the concerned authority.