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#2127131 - 04/19/17 09:28 PM File a SAR on attempted fraud/ID theft
WIBanker91 100 Club Joined: Nov 2011 Posts: 185 WI	We had an attempted new account fraud through on-line account opening. There were a lot of red flags before we opened the account, discovered that there was an attempt to open an account in an elderly person's name. The suspect had all the required information. We believe we were not the only bank to have this attempt. The request was to open the account for $200 so technically I would not file a SAR but should I?
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BSA/AML/CIP/OFAC Forum

#2127173 - 04/20/17 02:27 AM Re: File a SAR on attempted fraud/ID theft WIBanker91
JacF Power Poster Joined: Nov 2001 Posts: 6,719 PA	As you note, any filing you do would be voluntary. But if you have worthwhile information about the attempt (IP addresses, email addresses, source of funds), filing for the sake of making this information available to law enforcement could have alot of value. As you note, your bank is not the only target.
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#2127289 - 04/20/17 04:45 PM Re: File a SAR on attempted fraud/ID theft WIBanker91
RockChucker, CAMS Diamond Poster Joined: Jul 2013 Posts: 1,700 The Country	As Jac mentioned, this is ultimately your call but this information might be useful to law enforcement if they choose to pursue this individual. _________________________ A successful man is one who can lay a firm foundation with the bricks others have thrown at him. -David Brinkley
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#2127312 - 04/20/17 06:05 PM Re: File a SAR on attempted fraud/ID theft WIBanker91
WIBanker91 100 Club Joined: Nov 2011 Posts: 185 WI	thanks for confirming my thoughts.
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#2127365 - 04/20/17 08:00 PM Re: File a SAR on attempted fraud/ID theft WIBanker91
John Burnett 10K Club Joined: Oct 2000 Posts: 40,086 Cape Cod	Originally Posted By WIBanker91 We had an attempted new account fraud through on-line account opening. There were a lot of red flags before we opened the account, discovered that there was an attempt to open an account in an elderly person's name. The suspect had all the required information. We believe we were not the only bank to have this attempt. The request was to open the account for $200 so technically I would not file a SAR but should I? As one who is on the rapid slide toward "elder" status -- I keep pushing my definition of "elder" each year -- I thank you on behalf of any elder whose assets you might save by being aware of those red flags. _________________________ John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
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#2127407 - 04/20/17 10:57 PM Re: File a SAR on attempted fraud/ID theft WIBanker91
Elwood P. Dowd 10K Club Joined: Aug 2001 Posts: 21,939 Next to Harvey	For the first time in my career, this week I heard a law enforcement representative say in public there was no chance they would pursue a SAR for an amount of less than $XX,XXX. (I heard something similar in a training class for FDIC examiners in the preceding century.) Given the amount and the fact that no federal agency has jurisdiction over the financial exploitation of the elderly, I would not waste my time. _________________________ In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.
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#2127506 - 04/21/17 04:35 PM Re: File a SAR on attempted fraud/ID theft WIBanker91
WIBanker91 100 Club Joined: Nov 2011 Posts: 185 WI	thank you
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