Q: What triggers a suspicious activity report

[Jimbo]

I apologize you are correct. Before 1996 the CTR was the same form used to file an SAR (with a checkbox used) in those cases it was filed at any level of suspicious activity. I see since then (1996)the reports are now seperate.

In a meager defense of my mistake the OP title was about SAR's! [img]/images/graemlins/smile.gif[/img]


Jimbo

[Poshua]

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Casinos must file CTR at 3000

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$10001, actually. But they track $3000 cash transactions internally so if you hit $10K in a day they can do the CTR.

I found stats online somewhere listing the number of CTRs and SARs banks and casinos do. Banks are far more likely to do a SAR. The number of SAR's issued by casinos compared to CTR's was teensy compared to what banks do. So I guess the moral is you should launder your money in a casino.

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I think this effect may not be due to the cause you cite. Imagine that casinos and banks issue SARs on the same percentage of transactions. Further imagine that the average size of a cash transaction is much larger at a casino than a bank, meaning that a higher percentage of casino transactions warrant CTRs. Casinos would have a much lower SAR:CTR ratio, even though each would be equally diligent about SAR reporting.

[otter]

they'll have it recorded