We occassionally have customers who will do large cash out transactions ($50,000) for home improvement projects. I am guessing that their contractors will give discounts for cash, etc.
They are not structuring the withdrawals, so CTRs are filed.
My question is whether this type of transaction is SAR worthy. We can generally trace the source of the cash (loan proceeds, etc). I find it unsual that someone would pay $50,000 cash for something, but maybe others find it perfectly normal.
Would you generally file a SAR when a customer withdraws $50,000 to $75,000 for a home improvement project?