Safe Deposit Activity That Would Require a SAR

This is a challenging question, since best practices and long-standing custom dictate that the bank not have knowledge of what's going on in its coupon booths or of the contents of safe deposit boxes. That said, we often hear of questionable behavior of safe deposit lessees.

It's not uncommon for a bank to file a SAR if a box lessee conducts cash transactions such as swaps of low denomination currency for large bills, followed by a visit to a safe deposit box. SARs have been filed when lessees have made frequent visits to a box -- particularly a larger box -- involving satchels or briefcases, when there is no apparent business reasons for such frequent trips.

Basically, SARs involving safe deposit boxes often, but not always, involve cash that's seen in other parts of the bank (such as the teller line), and typically involve multiple visits to the box.