Misuse of banking system (Structured Transactions)

A SAR lodged by an officer at an authorised deposit-taking institution triggered an investigation into the supply of illegal drugs. The SAR detailed the daily occurrence of cash withdrawals of US$4,100 by an individual. These withdrawals continued over a three-week period and totalled US$54,500.

As a result of this report, law enforcement was able to connect the individual to a known drug dealer and arrest the offender and several associates, including the drug dealer.

Indicators:

• Daily cash withdrawals
• Structured withdrawals clustered over a period of time