Glossary > Suspicious transaction report (STR)

Suspicious transaction report (STR)

What is a suspicious transaction report (STR)?

Financial institutions and VASPs must file suspicious transaction reports if a transaction is suspected to be related to a money laundering or terrorism financing offense. AML regulations often include STRs as a requirement for compliance. However, the activity that will trigger the need to file an STR depends from country to country.

STRs must contain information on the suspected individual or entity and on the transaction itself. To gather these data, VASPs can use identity details collected during KYC processes and transaction monitoring tools such as Scorechain’s.