Per FinCEN, barring financial abuse by an insider, a SAR should not be filed unless $5000 worth of financial instruments(not just currency) is involved. $2000 for MSB's.

A local grocery store that I visit 1/2x per week forced me to scan my loyalty card to buy money orders today (I typically buy 1k per visit). They made up some BS why they needed it but it was clear that they wanted my name. I should have just walked away but didnt and scanned it (kinda regret it now). Im thinking WU is either asking for them to acquire my info or they want it to write up a SAR. They would have my name and address only. Do you guys fear any repercussions for these types of run-ins? Would SARS for buying MO's like this amount to anything? It kinda surprised me, but in a small town you stick out.

Yup, they will file a SAR and now your taxes are going to get audited.

This is VERY serious

What is your rationale behind this comment? I am not undermining, I just have not read anything on this or several other boards that indicate this to be true.

My rationale? A Winn Dixie store manager told me this. :D

Furthermore, based on SAR reading, it doesnt seem that my transactions even warrant one being filled out unless its under the pretense that "the customer comes in weekly (ONCE) and is not hitting any reporting requirements and were mad so were going to write him up..." .....I also believe that they got pressure from WU because in a small store the transactions probably stand out.

LOL - did he write you up at some point? I don't believe that a Winn Dixie store manager knows what leads to a tax audit.

I am not as convinced as you seem to be. Any data to back up the assertion?

Why? SARs are not filed with the IRS

I scoff at your source! My go-to source for information on Federal policies and procedures is the Money Center clerk at WM.

Andyandy

So a grocery store manager is in the know about how the IRS conducts tax audits? Color me skeptical....

I prefer my local Walmart manager for my continued AML and MS education.

Depending who is on shift, I get hit with the MSAR or the MO Transaction form. Two completely different forms for different purposes. Don't know which one is worse or any repercussions of one being filled out more than another.

Thoughts or insights into this?

The MO transaction form is internal MSB recordkeeping required by CFR, in ordinary circumstances it would not be forwarded to FinCEN or anyone else. It could be used by the MSB to prepare an SAR, though. SARs are forwarded to FinCEN and could conceivably lead to an investigation. For that reason, I'd say an SAR is "worse."

Andyandy

P.S.: To be clear, I don't believe an investigation would go anywhere in the case of ordinary CC-PPDC-MO-Bank cycling. That's not to say it mightn't be quite disruptive.

That's theoretically what's supposed to happen, BUT unless we get someone from WM on here that actually knows, we don't know where either form goes (if anywhere). And I bet its completely YMMV by store. The form binders in my local store don't look like they've had pages taken out in a long, long time.