Explanation/Reference:

Ref This transaction should result in a SAR/STR filing because it indicates possible structuring, which is a form of money laundering that involves breaking down large amounts of cash into smaller deposits to avoid detection or reporting requirements. Structuring is often done to conceal the source or destination of illicit funds, or to evade taxes, regulations, or sanctions. A small business owner who deposits checks just below the
$10,000 USD threshold on a daily basis without providing a legitimate purpose raises a red flag for suspicious activity and should be reported to the relevant Financial Intelligence Unit.
References:
Suspicious Transaction Report (STR) / Suspicious Activity Report (SAR)
What Is a Suspicious Activity Report (SAR)? Triggers and Filing
How to decide if SAR filing is needed
erence: https://aml-cft.net/library/suspicious-transaction-report-str-suspicious-activity-report-sar/

MLROs are responsible for implementing and enforcing an appropriate risk-based approach for their firm, ensuring compliance with the relevant laws and regulations, and reporting any suspicious activities to the authorities. If they fail to discharge their duties, they may face personal liability and civil or criminal sanctions. MLROs are not the only individuals that can be held responsible for AML program deficiencies, as other senior managers, directors, or partners may also be liable depending on their role and involvement.
However, MLROs are often the primary focus of enforcement actions due to their specific responsibilities and obligations. MLROs cannot avoid liability by agreeing to a civil penalty, as this does not absolve them from their legal duties or potential criminal prosecution. Banks can also be found liable for AML program deficiencies and face fines, penalties, or other sanctions.
References:
Technical factsheet The role of the money laundering reporting officer
Consequences of not complying | AUSTRAC
Money Laundering Reporting Officer: The Role Of MLRO
FinCEN Penalizes U.S. Bank Official for Corporate Anti-Money Laundering Failures

Reference:
http://www.fatf-gafi.org/media/fatf/documents/reports/Risk-Based-Approach-Banking-Sector.pdf