Leak reveals $2T of possibly corrupt US financial activity

Re:Leak reveals $2T of possibly corrupt US financial activity by adrr on Thursday September 24, 2020 @12:25PM (#24580297)

SARS get generated all the time. Any large movement of cash will generate a SARs. That multi million dollar wire from an escrow account after your startup had liquidity event generated a SARs. What do you think the false positive rate of a SARS report it? 99%? 1 out of 100 SARS reports are actual criminal activity.

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Re:Leak reveals $2T of possibly corrupt US financial activity by ceejayoz on Thursday September 24, 2020 @12:38PM (#24580492)

> Any large movement of cash will generate a SARs.

No. It will generate a CTR. It may generate a SAR.

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Re:Leak reveals $2T of possibly corrupt US financial activity by adrr on Thursday September 24, 2020 @02:55PM (#24582187)

I should clarify, any large transfer to an individual that hasn’t demonstrated access to large amount of capital will generate a SARS. If your not a private client at your bank and you get a $10mm wire will more than likely will generate a SARS and lots of phone calls from the compliance dept at the bank. That like the text book definition of a suspicious transaction. Low balance accounts getting large transfers.

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