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Filing a SAR on a One Owner Business

Answered by: 
Kathleen Blanchard

Question: 
When filing a SAR on a business with only one owner, do you need to file on the business alone or the owner as well? The owner did all the transactions in this particular situation.
Answer: 

In this instance, both should be reported as suspects. A "business" cannot conduct transactions without a person. Suspects should be people, unless the suspect is unknown. You know your suspect here: the individual conducting unusual transactions through the business accounts.

First published on BankersOnline.com 11/05/07

First published on 11/05/2007

Filed under: 
Security
Filed under security as: 
SAR

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