You know - in the past I would agree that you have sufficient information to justify not filing a SAR, and I don't think we should be "like KGB" and filing out "party reports" on our fellow citizens.
BUT even though FinCEN does not want defensive SAR filings, that message has NOT reached the field examiners who are going after this stuff with gusto.
It doesn't help that the FBI is out there saying "We don't care if the SARs are defensive or not, we want more!" (See most recent issue of ABA's Money Laundering and Terrorism update.)
You wanna hear something sad? We investigated "unusual" activity for one of our clients and found satisfactory and supportable explanations. Didn't matter, and the account got written up by our examiner.
The sad part? We made a Community Development loan to this customer!!!!!!!!
(Okay - so providing employment in a federal Empowerment Zone is a BAD thing now?)