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#1238916 - 08/25/09 08:42 PM File a SAR?
Fallgirl Offline
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Fallgirl
Joined: Mar 2005
Posts: 432
Wisconsin
I need another opinion on whether or not to file a SAR. We had an individual come into the bank three times within ten days to get a cash advance for $7K - $8K. This person is not a customer and is from out of state. He stated he was a truck driver and needed cash for his drivers. Would anyone file a SAR in this case? Why or why not?

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#1238934 - 08/25/09 09:06 PM Re: File a SAR? Fallgirl
i*sam Offline
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i*sam
Joined: May 2007
Posts: 166
Southern California
I would--large transactions under the reporting amount in a short amount of time. If he has a legitimate truck driving business, that cash should be coming out of a business banking account. And if this cash is for payroll, sounds like there could be some form of tax evasion here.

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#1238994 - 08/25/09 10:10 PM Re: File a SAR? i*sam
ACBbank Offline
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ACBbank
Joined: Jul 2006
Posts: 4,236
New York City
It's hard to say w/o knowing all the facts, but based on the details you described, I would file a SAR. I agree w/ Sam that this could be a case of tax evasion along with structuring.
Last edited by ACBbank; 08/25/09 10:11 PM.
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#1239144 - 08/26/09 01:08 PM Re: File a SAR? ACBbank
Georgia Plum
Unregistered

If he's not a customer, why are you giving him cash? What kind of check is it?

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#1239151 - 08/26/09 01:12 PM Re: File a SAR?
Skittles Online
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Skittles
Joined: Sep 2002
Posts: 13,964
TN
She stated 'cash advance' so I'm assuming it's against a credit card.
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#1240081 - 08/27/09 01:31 PM Re: File a SAR? Skittles
Fallgirl Offline
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Fallgirl
Joined: Mar 2005
Posts: 432
Wisconsin
Yes it was a credit card. We do cash advances for noncustomers, but not very often. it just seemed odd to me that he would come in three times within ten days and take out that amount of cash.

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#1240088 - 08/27/09 01:39 PM Re: File a SAR? Fallgirl
nemsi Offline
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Joined: Nov 2005
Posts: 383
Yes- I would file a SAR for structuring.

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#1240516 - 08/27/09 07:12 PM Re: File a SAR? nemsi
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,292
I would file. I had a similar situation with a debit card from a brokerage account. We contacted the FI that issued the debit card, they contacted customer, he admitted to structuring!
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#1241883 - 08/28/09 10:48 PM Re: File a SAR? Kathleen O. Blanchard
WonderWoman Offline
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WonderWoman
Joined: Mar 2007
Posts: 2,108
gone fishin'
*devil's advocate* ... he may have a limit on how much he can cash advance ... most cards have that ...

Either that or you may want to read up on this story to see if your situation is similar ...

http://sacramento.fbi.gov/dojpressrel/pressrel09/sc081709.htm
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