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#1376777 - 04/19/10 08:31 PM SAR?
beegee Offline
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Joined: Feb 2004
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South
We had a customer that lost $30,000 in an ebay scam through a wire to purchase a vehicle that never came. My understanding is that this is a SAR even though the bank lost no monies. Is my understanding correct on this?

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#1376797 - 04/19/10 08:50 PM Re: SAR? beegee
J2C Offline
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Joined: May 2004
Posts: 1,475
Big Brother knows and that's a...
30,000! Yes, you should file a SAR.
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My opinion is mine only- not my employer's!


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#1376850 - 04/19/10 09:36 PM Re: SAR? J2C
beegee Offline
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Joined: Feb 2004
Posts: 1,110
South
Thanks Jenny - I was not sure given that it was customer loss and not the banks. --beegee

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#1376863 - 04/19/10 10:04 PM Re: SAR? beegee
J2C Offline
Diamond Poster
Joined: May 2004
Posts: 1,475
Big Brother knows and that's a...
Your customer had a suspicious transaction in their account at your financial institution. It doesn't matter if there is a loss or not, it was suspicious. I assume law enforcement has already been involved. If that is the case, it should be indicated in the SAR.
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My opinion is mine only- not my employer's!


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