Skip to content
Thread Options
#2039802 - 09/22/15 01:30 PM SAR for Check Fraud?
Banker Drysdale Offline
New Poster
Joined: Sep 2015
Posts: 2
We have a (former) customer who has continued to write checks off an account that we closed 8 months ago. To date, he has written about 50 checks totaling over $10,000. Is this a SAR event? All the checks are returned "account closed" and the bank is not taking a loss, which I know is not a factor. To some extent, I feel like the check fraud is against the merchants who are accepting the checks and not against the bank. How do other banks deal with this issue?

Return to Top
#2039804 - 09/22/15 01:35 PM Re: SAR for Check Fraud? Banker Drysdale
MagicCity Offline

Power Poster
Joined: Apr 2003
Posts: 3,003
Fort Lauderdale, Florida
In those circumstances we would file a SAR for fraud, because the transactions are coming to your bank.

Return to Top
#2039817 - 09/22/15 02:01 PM Re: SAR for Check Fraud? Banker Drysdale
ACBbank Offline
Power Poster
Joined: Jul 2006
Posts: 4,192
New York City
We follow the same process as Magic indicated.
Last edited by ACBbank; 09/22/15 02:02 PM.
"100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu

Return to Top

Moderator:  Andy_Z