Question – My credit union runs a report each month that shows all cash deposits and withdrawals between the amounts of $3,000 and $10,000. We are trying to determine the proper dollar amount or threshold that will determine when we have to file a suspicious activity report (SAR). Someone indicated to me that if someone has five transactions each quarter that show up on this report, this likely merits the filing of SAR. In addition, we have been told that two cash deposits or withdrawals near the $10,000 level within a short period of time should trigger the filing of a SAR. Is there any guidance in this area?
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