US: SAR LINKED TO CASH TRANSACTIONS SOARED IN 2020

On 9 February, the Wall Street Journal reported that SAR related to transactions just below the threshold for currency transaction reports hit a record in 2020.  This is said to indicate how the closure of borders and businesses because of the coronavirus pandemic may have altered the way potentially illicit transactions are conducted.  The number of SAR on cash transactions below a $10,000 threshold was the highest in the 7 full years the category has existed, and was the leading suspicious activity category in 2020.

https://www.wsj.com/articles/suspicious-activity-reports-related-to-cash-transactions-surge-11612900800

I would be grateful for any modest contribution for my time and ongoing costs of computer, relocation, and (still ongoing) removal costs, I have a page, where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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