Our bank has been questioning when a transaction is considered "suspicious" and when the time clock starts for BSA filing. Some are saying only our BSA officer/department can determine when a transaction is suspicious and that would start the 30 day SAR filing time clock. Others are saying if the client says a transaction is fraudulent, that starts the 30 day clock. How are we to determine when the 30 day clock starts?
Do you have to file a Marijuana Limited SAR or Marijuana Priority SAR if you discover one of your customers works for a marijuana related business (MRB) but is not the MRB? Hypothetically if you find out one of your customers works at a growing facility of marijuana but does not own it, do you have to file?
On a SAR if we don’t know the name of the subject can we put the victim?
How do I write a narrative for my SAR?
It seems like the BSA rules are everywhere how can I find everything?
Our Board members want the names of the people we file SARS on. Should we do that?
Can we take a concealed weapon card for identification for Customer Identification Program?
Is there anything about risk assessments for BSA or OFAC in the regulations?
Is it customary to file a SAR when a customer's payroll check is returned as NSF? The check is not redeposited and it appears the employer corrects this by paying the employee in cash for those returned items. The check amounts range from $600-$900. There have been a total of 9 checks within a yearlong period.
Could this be SAR worthy. A new business customer is in dispute with their old bank over unpaid loan balances. This customer created a "new business", which is really the same business but with new name, new tax ID, etc. All the paperwork is in order. The customer has legal counsel and is fighting the claim against him in court. It is matter of public record. The case is scheduled to be heard in a few months.
The owner of the business (the one with the claim against him) is not a signer on the new business account, only the CFO is. We think this is intentional to avoid any garnishment or levy against the new business account. Do you feel this renaming of the business and keeping the owner off the account qualifies for SAR or is this just normal and reasonable legal tactics pending the resolution of the claim against him?
That being said, there is another element here as he also opened a personal money market account where he originally deposited $76,000 in tax refund checks from the US Treasury. These checks are payable to him as an individual. He has subsequently made 20 cash withdrawals totaling $61,090 in 4 months from October to January. He says he is using the money as gifts and for the business.