Originally Posted by
Chelski
IFF WM determines that certain transaction(s) or customer(s) should be reported then it will more likely end up there. The actual filling out of a WM form does not go to fincen directly. It goes to the WM HQ. WM HQ then determines how to proceed.
Yes this is all speculative.
It seems that this thread should stop speculating on things that aren't known and get back on topic.
What is supposed to happen depends on the form. What actually happens is anyone's guess of course.
Money Order Transaction Report - form used for money order sales.
Supposed to be retained in accounting office for 5 years.
Technically, this form should only be filled when the money orders are purchased with cash (it even says so on the form itself.) but good luck ever winning that argument. Besides, I'd rather fill out this form every time than somehow convince them it isn't required only to have them say "Ok, we will fill this one out instead" *pulls out a SAR*
Currency Transaction Report - form used for cash transactions over 10k.
Supposed to be sent to the government.
Suspicious Activity Report - form used for any time a cashier/manager feels like being a douche.
Supposed to be sent to the government.
Money Services Activity Report - technically this form is supposed to be used for bill payments and gift card sales over 2k, though I've only once been asked to fill it out across 1000s of transactions. I had no idea what the form was at the time.
Supposed to be sent to Walmart HQ.
Form 8300 - not really relevant to us, but this form is used for any purchases of over $10k in cash in one day. Each stores counts as its own entity for the purposes of this form according to the form itself.
Supposed to be sent to the government.