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#1239382 - 08/26/09 03:01 PM sar
banker23 Offline
New Poster
Joined: Aug 2009
Posts: 1
IF YOU CASH A CHECK MADE PAYABLE TO A BUSINESS, SHOULD THIS AUTOMATICALLY TRIGGER FILING A SAR?

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BSA/AML/CIP/OFAC Forum
#1239403 - 08/26/09 03:07 PM Re: sar banker23
ACBbank Offline
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ACBbank
Joined: Jul 2006
Posts: 4,344
New York City
Possibly. It depends on some other factors though. How much the check was for? Were you monitoring this account prior to the transaction? Why did you allow the check to be cashed?
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#1239432 - 08/26/09 03:23 PM Re: sar ACBbank
AML247 Offline
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Joined: Jun 2005
Posts: 127
SC
Although against our check cashing policy (we do not cash checks payable to a business), there are occasions when one might slip through with a new teller. "Automatically", being the key word here, cashing the check would not trigger filing a SAR unless like ACBbank pointed out, there was other activity surrounding the transaction that made it suspicious.

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#1241405 - 08/28/09 05:20 PM Re: sar AML247
rusure Offline
Junior Member
Joined: Feb 2008
Posts: 49
Rocky Mountains
If you cash it for the sole proprietor it should not be a problem. So no, not automatically.

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#1241406 - 08/28/09 05:20 PM Re: sar AML247
rusure Offline
Junior Member
Joined: Feb 2008
Posts: 49
Rocky Mountains
If you cash it for the sole proprietor it should not be a problem. So no, not automatically.

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#1242474 - 09/01/09 11:59 AM Re: sar rusure
Pat Patriot Act Offline
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Pat Patriot Act
Joined: Apr 2009
Posts: 450
Nothing should *automatically* trigger a SAR filing. All available facts should be carefully examined, and a well-documented decision regarding the need for a SAR should be made within 30 days of being notified of the activity.
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#1242628 - 09/01/09 02:36 PM Re: sar Pat Patriot Act
80's Lady Offline
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Joined: Apr 2007
Posts: 295
The only thing that should automatically trigger a SAR filing is insider abuse.
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