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Board of Director and SARs

Answered by: 
Deborah Crawford

Question: 
If we see a Board Member changing $5, $10 and $20s for $100s on a regular basis should we alert our BSA officer?
Answer: 

Yes, it does not matter who the customer is. You should let your BSA officer know when transactions are not in the normal range or represent one of the standard red flags.

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Learn more about Deborah Crawford’s

BSA Red Flags for Money Laundering—Staff Training webinar

First published on 03/07/2021

Filed under: 
Compliance
Filed under compliance as: 
Compliance/Compliance Management
Currency Transaction Reporting
Money Laundering
Operations
Red Flags
SAR

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