Thread Starter: SARsSARsEvrywhre
Title: Re: Structuring non-taxable funds??
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Thanks. I guess what I'm getting at is intent. A lot of structuring SARs involve the bank having to decide whether there was intent to structure. For instance, structuring after asking questions about CTRs, changing the amount of a transaction to avoid a CTR, refusal to provide info for a CTR, and that sort of thing are fairly easy determinations.
But in some cases we have a business customer who deposits $8,000- $10,000 cash repeatedly, seldom or never exceeding $10,000. In order to file a structuring report on that, we have to assume that the customer is holding back funds. It could be that there was no intent to structure whatsoever, and it just happens that they tend to make about $8,000 or so in a day.
If a consumer gets a personal injury settlement of $50,000 and they take out $10,000 today for a new car and $10,000 tomorrow to give to their mom and $10,000 Friday to take a vacation, that doesn't automatically mean they were structuring. We have to make some guesses about intent. So, that's what led me to question whether our cases of structured personal injury settlement proceeds are basically nonsense.
We have no indication of intent to avoid a CTR other than the transaction amounts and timing.
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