FlyerTalk Forums - View Single Post - Suspicious Activity Reports to the IRS when buying or depositing money orders.
Old Feb 20, 2013, 10:24 pm
  #23  
maradori
 
Join Date: Jun 2009
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I used to be a teller for one of the large Canadian banks and we had similar things about anti-money laundering and etc

I don't remember all the details anymore, having left the job maybe 6 years ago, but what I remember is similar to the US rules

- $10k cash in one transaction gets me an automated Large Cash Transaction Report to fill out (one customer won $10k from a casino and wanted to deposit the winnings ... kinda awkward to ask for their ID and stuff)

- as a best practice, when servicing a customer, I typically do a cursory look at their recent transactions. If they come in to, say, deposit $2k and I see that they've already deposited $8k cash in the past few days, that's also a sign I should do a LCTR

- we were also trained a bit on how to notice suspicious transactions and fill out a suspicious activity report. There were a few points of emphasis with the training modules:

- there is no min/max for filing a SAR
- we cannot let the customer know that we're filing a SAR (but we can for LCTRs) -- this probably explains why the OP got stonewalled a bit at walmart
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