Posted By: beegee

SAR? - 10/11/18 03:56 PM

We have a used car dealer as a deposit customer that receives cash payments.

The office manager also has an account with us and she has been making daily cash deposits into her personal account.

It appears to us that she is embezzling from the car dealer.

Is this a SARable event?
Posted By: RockChucker, CAMS

Re: SAR? - 10/11/18 04:09 PM

It might be but in my opinion you need to do some more research into this before you can determine if it is suspicious or not. How big are these cash deposits? Does she have a business on the side where it would make sense that she gets cash? How long have these cash deposits been happening? Is she making the cash deposits or is it her spouse or another person?

Best of luck!
Posted By: beegee

Re: SAR? - 10/11/18 04:19 PM

Thanks Rock - cash deposits are all less than $1000; no business on the side; cash deposits last 90 days or so; she is making the deposits.
Posted By: Elwood P. Dowd

Re: SAR? - 10/11/18 05:07 PM

You need to consider filing a SAR and document any decision not to do so. Asking the customer where the cash is coming from will be the easy part of your investigation. The hard part will be deciding whether to talk to the owner of the car lot based on the credibility of her response.