Do weird cash advances warrant a SAR?

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Question:

Customer requests $35,500 from his 5 credit cards. Each card is approved and authorized by credit card company. At the same time he placed the funds in his checking account with us. After completing transaction, he requested the branch manager to withdraw the same amount and cut a bank check payable to a business. Question: Do you feel a SAR should be filed? The issue is being debated between our Compliance and Bank Security officers.

Answer:

Some friends of mine did exactly the same thing when they were adopting a baby and found it necessary to "fund" the legal and medical expenses involved with only 24 hours notice.Without additional information, I am not certain exactly what it is you suspect this customer of doing.

First published on BankersOnline.com 3/24/03