Can anyone tell me how their bank monitors and reports suspicious wires via Suspicious Activity Reporting (SAR)? Our last audit indicated that specifically INTL wires should be reviewed closely and reported if we have limited or suspect information about or customer or their business. The audit mentioned patterns of wires and knowledge of the customer.

It's really your call as to what is suspicious in the area of wire transfers. Of course, when wired funds turn into large cash transactions - that a given for at least CTR activity. Wire activity that, in your opinion, is not normal for a specific customer may prompt you to file a SAR.

Do you utilize or recommend any tools which identify this type of suspicious activity? The Fed auditors also stated that patterns of wires over a period of time should also be reviewed and reported.

We are looking at Money Laundering software that will do all this and more. Some of the companies that demo'd for us are Bankers Tool Box,GIFT software and Global.

Thanks!!!