redstate.com
By Mike Miller
In this episode of The Biden Family BusinessâŠ
The House Oversight Committee, chaired by Republican Rep. James Comey (Ky.), is scheduled to question Treasury Department official Jonathan Davidson on Friday about why the department has refused its repeated requests for the Biden familyâs suspicious business transactions flagged by U.S. banks.
Under the Bank Secrecy Act (BSA), financial institutions are required to file a Suspicious Activity Report (SAR) âno later than 30 calendar days after the date of initial detection of facts that may constitute a basis to assist U.S. government agencies in detecting and preventing money laundering,â and:
- Keep records of cash purchases of negotiable instruments;
- File reports of cash transactions exceeding $10,000 (daily aggregate amount); and
- Report suspicious activity that might signal criminal activity (e.g., money laundering, tax evasion).
Comer and (Republican) members are understandably eager to have a look-see at those SARs.
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