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File a SAR on Levied/Garnished Customer?

Are we required to file a SAR on a customer if we receive a levy or garnishment over $5000?

Answer by Kathleen Blanchard:No. You should review the account for any signs of suspicious activity and file if you do identify any such activity, but you are not expected or required to file simply based upon receipt of a levy or garnishment.


Answer by John Burnett:A levy or garnishment order doesn't by itself suggest a violation of law. It could simply indicate that the customer has past due tax or contractual obligations and the government or creditor has exhausted routine collection procedures without success.

First published on 11/24/08

First published on 11/24/2008

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