We have had a customer that purchased a bank check and after 6 months they cash the check and get another for the same amount made payable to themselves. I guess this has been going on for a while now. Should we file an SAR?

Which federal crime do you think he committed? It doesn't sound like he is doing anything but transporting a bank check in his wallet.

I have come across this practise quite often. Usually these customers are receiving government benefits and do not want balances being reported otherwise they would not qualify for the benefits.

Anon,
I don't remember saying anything about a "federal crime".
I'm was looking for SAR guidance as these transactions do not seem to have a "business" purpose.

I have done that when I wanted to save money.