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#1478110 - 12/08/10 09:43 PM SAR on Employee
Anonymous
Unregistered

Employee of bank purchases multiple cashiers checks, made payable to himself and wife, with cash. None triggers CTR reporting, but over a two week period the amount is substantial (over CTR trigger). Can this be discussed with employee (by BSA Officer or President) to determine source of cash and/or if there is a reason why a SAR should NOT be filed? The filing of a SAR will NOT be mentioned to employee.

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#1478131 - 12/08/10 10:08 PM Re: SAR on Employee Anonymous
#Just Jay Offline
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#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
Absolutely!
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#1478142 - 12/08/10 10:29 PM Re: SAR on Employee #Just Jay
BrendaC Offline
Power Poster
BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
I don't know a better way to investigate the source of funds than to ask the customer. They shouldn't be surprised you may need to research and document that info.

Just keep it routine and low key.
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Life without Jesus is like an unsharpened pencil - it has no point.

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#1478157 - 12/08/10 10:51 PM Re: SAR on Employee BrendaC
Midwest Banker Offline
Gold Star
Joined: Nov 2004
Posts: 349
Cheeseland
Don't forget to look at (behind the scenes) where the cash may have come from and if they (the employee) ran the transaction for themselves which should be a policy violation

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#1478282 - 12/09/10 02:40 PM Re: SAR on Employee Midwest Banker
prettysoon Offline
Junior Member
Joined: Oct 2009
Posts: 25
somewhere over the rainbow.......
If there is foul play it surpises me that the employee would obtain the official checks at the bank they work at! Then again, stupid is as stupid does! SAR for sure! Anyone observing any other "odd" behaviour by the employee? Any new cars, lifestyle changes?
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#1478348 - 12/09/10 03:39 PM Re: SAR on Employee prettysoon
BrendaC Offline
Power Poster
BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
I've seen many occasions where people would purchase official checks as a way to control their spending or pending a significant life event such as a home or auto purchase. I've also seen the practice used to hide money pending divorce and for tax evasion. Don't assume, get the facts.
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Life without Jesus is like an unsharpened pencil - it has no point.

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#1482022 - 12/16/10 10:26 PM Re: SAR on Employee BrendaC
Anonymous
Unregistered

Speaking of people doing their personal banking at the bank they work for: I heard a local story that of an employee getting terminated for reasons relating to calling in sick. Apparently, their employee checking account activity was being watched on the day they called in sick and their were debit card purchases that appeared to be shopping activity....Wow! 1984

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#1482185 - 12/17/10 02:58 PM Re: SAR on Employee Anonymous
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,593
Cape Cod
Gee, the employee only wanted to save the bank's other employees and customers from being exposed! I guess there was no concern for the throngs at the mall!
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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