Skip to content
BOL Conferences
Thread Options
#348660 - 04/19/05 07:39 PM Forged Endorsement
GPrejean Offline
Member
GPrejean
Joined: Sep 2002
Posts: 86
Lake Charles, LA
Our bank had a non customer inform us that a check payable to him was deposited into one of our accounts. Our research discovered that his ex wife had taken the check, forged his endorsement signature and deposited it into her current husbands account. When the non customer learned it was his ex wife he decided to withdraw the claim. I'm thinking about filing a SAR since I now have knowledge of a criminal offense. Any help will be appreciated.

Return to Top
BSA/AML/CIP/OFAC Forum
#348661 - 04/20/05 02:25 AM Re: Forged Endorsement
JacF Offline

Power Poster
Joined: Nov 2001
Posts: 6,719
PA
Quote:

I'm thinking about filing a SAR since I now have knowledge of a criminal offense.


I certainly can't argue with this logic, but other factors are worth consideration as well. First is the mandatory reporting threshold- which is $5000 because you have a known suspect (this assumes that neither the ex-wife nor your depositor are insiders for SAR purposes). If the transaction exceeds the threshold, file.

If the transaction is below the threshold, you're still welcome to file the SAR, but consider other factors (customer's history, possible past forgeries, etc.) in the decision as well.

Return to Top

Moderator:  Andy_Z