Identity Theft and Pretext Calling

Special SAR Form Completion Guidance Related to Identity Theft and Pretext Calling

Criminal activity related to identity theft or pretext calling has historically manifested itself as credit or debit card fraud, loan or mortgage fraud, or false statements to the institution, among other things. As a means of better identifying and tracking known or suspected criminal violations related to identity theft and pretext calling, a financial institution should, in addition to reporting the underlying fraud (such as credit card or loan fraud) on a SAR, also indicate, within the narrative of the SAR, that the activity also involved identity theft or pretext calling. Specifically, when identity theft or pretext calling is believed to be the underlying cause of the known or suspected criminal activity, the reporting institution should, consistent with the existing SAR instructions, complete a SAR in the following manner:

• In Part III, Box 35, check all appropriate boxes that indicate the type of known or suspected violation being reported and, in addition, in the "Other" category, write in "Identity Theft" or "Pretext Calling", as appropriate.
• In Part V, explain what is being reported, including the grounds for suspecting identity theft or pretext calling in addition to the other violations being reported.
• In the event the only known or suspected criminal violation detected is identity theft or pretext calling, write in .Identity Theft. or .Pretext Calling,. as appropriate, in the .Other. Category in Part III, Box 35. Provide a description of the activity in Part V of the SAR.

Excerpted from SAR Activity Review Issue 3, page 41