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Thread: Suspicious Activity Reports to the IRS when buying or depositing money orders.
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Old Feb 5, 2014 | 6:54 am
  #651  
member7777
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Join Date: Jun 2011
Posts: 639
Originally Posted by AnalystGuy
Not guaranteed.

A bank is required to file a SAR if they have reason to believe your activity is suspicious. Give them a valid reason and they won't.
Well, let's think about that.

"I asked the money laundering drug cartel person about the money orders and he gave me a valid reason so I did not file a SARS."
"You are fired."

OR

"I asked the money laundering drug cartel person about the money orders and he gave me a valid reason so I did file a SARS to cover my ... and make sure the bank didn't get fined. Then compliance saw the activity and cancelled the checking account with no explanation"
"You are promoted"

I think the reality is if you own a business or have more at risk than checking acct/credit card closure you must not participate.
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