Exempting Customer with SAR for Structuring

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Question:

If we file a SAR on a customer for structuring deposits, can they later be made exempt?

Answer:

Yes, if the customer otherwise qualifies as an exemptible person. My only caveat is to make sure that you'll be able to monitor the customer's activity as well with the exemption in place as you do without an exemption. Some banks use CTR filings as monitoring resources.

First published on BankersOnline.com 7/11/11