What is suspicious about the activity? Does the loan activity in itself seem suspicious or is it just the fact that the customer appears to have overstated his/her income substantially?
I have seen several instances of discrepancies in income reported by the customer and income from their tax returns. For example, sole proprietors reporting gross revenue, etc. If repayment of the loan was based on the higher income level, you may have a sound lending issue.
However, unless the structure or the nature of the loans is suspicious it does not seem to merit a SAR filing.
Opinions expressed here may not be the same as the opinions of my employer.
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Just my 2 cents worth--for what its worth!!