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#2029554 - 07/24/15 04:07 PM Elder Abuse SAR?
terpsfan Offline
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Joined: Feb 2007
Posts: 1,970
If a customer continues to get cashier's checks to send to different companies promising prizes to pay what they are telling him is taxes for the prizes but no prizes are ever received should a SAR be filed for elder abuse? The customer is elderly and these transactions are never greater than $5,000 but I am afraid he is getting taken advantage of. The company is always different names so I am not sure who the subject would be if we report.

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#2029568 - 07/24/15 04:20 PM Re: Elder Abuse SAR? terpsfan
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 78,596
Galveston, TX
1. Stop issuing cashier's checks.

2. If you file, follow this guidance:

http://www.fincen.gov/statutes_regs/guidance/html/fin-2011-a003.html
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#2029578 - 07/24/15 04:30 PM Re: Elder Abuse SAR? terpsfan
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
If it's happened more than once, I suggest you either 1) aggregate the incidents or 2) just say "Who cares?" and file a voluntary SAR.

Of far more importance: Put a stop to it.

Determine what your reporting responsibilities are for reporting financial exploitation of the elderly under state law and make certain you fulfill them. Have the most skilled and effective person in your bank sit down with the customer and explain the situation.

Stop selling him cashiers checks.
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#2029609 - 07/24/15 05:29 PM Re: Elder Abuse SAR? terpsfan
Jocawest Offline
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Joined: Jul 2015
Posts: 9
The subject would just be listed as unknown

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#2029623 - 07/24/15 05:57 PM Re: Elder Abuse SAR? Jocawest
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
That would depend on the specific fact situation; e.g. if I'm issuing a cashiers check to John Smith that may or may not be the perp's real name. However, I have no reason to assume that it's not and, thus, deny law enforcement the opportunity to connect the dots between this scam and another.
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