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Question & Answer
Question: If an individual that we know is being investigated by the FBI for check fraud begins an account relationship with our bank that fits the check kiting pattern, should we file an SAR?
Answer: Yes. When in doubt, file. CTRs and SARs are used daily by law enforcement. The information you report is placed in an electronic data base that law enforcement officials can search. An additional SARs from a new bank can help law enforcement follow the pattern.
Copyright © 1997 Compliance Action. Originally appeared in Compliance Action, Vol. 2, No. 15, 12/97
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