I received a security incident report for "Wire Transfer Fraud" in which a branch received an email from an individual posing as our customer, requesting a large sum of money be wired to Austrailia. Naturally we verified this request with our customer who indicated that she did not make this request. I have been asked to consider a SAR for Wire Fraud but when I read 18USC1343 my brain just doesn't want to accept this type of activity as the same "wire fraud". Would some of you mind chiming in with your insights???? Please and Thank You!

Description of wire fraud from the 7th issue of the SAR Activity Review:


A person who, intending to defraud or obtain money or property by fraudulent means of false pretenses, representations or promises, transmits an electronic funds transfer.

Yes, I did read that, but I can't wrap my brain around how that is derived from the code... I'm sure it is there - folks much smarter than me have interpreted it that way...... just can't quite see it. Also, nothing was transmitted, does this mean it is another characterization than wire fraud? We may be hanging up on the wire part because a wire was requested. This is probably the simplest SAR I would ever consider and I am overthinking it!

It was ATTEMPTED wire fraud; I would file a SAR if the amount was over the $25,000 threshold (since obviously the client wasn't really who was requesting it, and no one knows the true identity), completing all the information I could.

18 USC 1343

Whoever, having devised or intending to devise any scheme or artifice to defraud, or for obtaining money or property by means of false or fraudulent pretenses, representations, or promises, transmits or causes to be transmitted by means of wire, radio, or television communication in interstate or foreign commerce, any writings, signs, signals, pictures, or sounds for the purpose of executing such scheme or artifice, shall be fined under this title or imprisoned not more than 20 years, or both. If the violation affects a financial institution, such person shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.

So how was this not intending to devise an artiface to defraud to obtain money under fraudulent pretenses?

I see no issues with placing this square within the statute.

As you suggest, you might be overthinking this. If it helps, try to figure out how you would explain not filing the SAR if the dollar threshold is crossed. I couldn't.