STR
Suspicious Transaction Report
Definition
A report submitted to authorities when a financial institution identifies a transaction that gives rise to suspicion of money laundering or terrorist financing. STR is the term used in many non-US jurisdictions and is functionally equivalent to a SAR.
Regulatory Context
The FATF Recommendations require all countries to establish a system for reporting suspicious transactions. Many jurisdictions use the term STR rather than SAR, though the underlying obligation is the same.