Looks like our elderly customer was a victim of a Nigerian 419 scam via wire transfer. He said his wife to be (he never met her) is on her way to America via London from Nigeria. We have no suspect info. Anyone have their customers victimized and would you file a SAR? Thanks.


“Chance favors only the mind that is prepared”. Louis Pasteur

I wouldn't file a SAR... based on the $25,000 no-suspect threshold. Just my opinion though.

Cheers!

Go to the FinCen Website and go to Depository Institutions and search for Nigerian 419. You will get all kind of information on what to do and who to report this to. I agree what AFaquir said that no SAR would need to be filed. I cannot put my hands on the directive from FinCen that came out several years ago but they said do not file a SAR unless a loss has been taken.

Here's the index to SAR related subjects discussed in FinCEN publications. I'm not certain this meets the standard definition of a 419 scam, but "advance fees" is the first topic listed so you will be able to judge.

You did not provide an amount or any indication whether your customer lost money (relevant if this is determined to be a 419 filing), so there is no way to be certain whether a SAR is necessary.

As soon as your customer accepts the fact she isn't coming, he can file his own report here.

Ok, the guidance says "if a monetary loss has not been incurred"--by the bank? or the customer? or either?

Our customer will not admit that he is a victim of a scam so I doubt he will report it! We thought about advising our local police division that deals with elder fraud but we aren't sure what to disclose. We cannot convince him of the scam so likely the police can't either!