Professionals Disagree on When to File SARs on Suspected Evasion of Civil Payments, Tax Liens

By Brian Monroe

Account activity related to efforts to evade paying child support, hide assets from a spouse or dodge a tax lien could warrant a suspicious activity report, even if the funds involved are ostensibly of legal origin, say former and current compliance officers. While that may be the case and law enforcement can benefit from a suspicious activity report (SAR) that identifies a person trying to skirt a tax lien or court ordered payment, the work it takes to file them can require more than 50 percent of a compliance staff's resources, say Bank Secrecy Act officers. In addition, some anti-money...