Thread Options
#2217098 - 07/05/19 09:14 PM ACH Fraud - Phone Payment to Credit Card
TryingtoComply Offline
Diamond Poster
Joined: Apr 2013
Posts: 1,829
The West
I'm curious to know what others are doing in these situations. We had a customer file a claim of ACH fraud for a phone payment to a credit card. We have the name of the person that the credit card belonged to. Of course, it's highly likely that this person is not the person committing the fraud. In this case, it was $7,500.

Are you filing and reporting the name of the person whose credit card it was applied to or not filing as the $25,000 threshold was not met and claiming the suspect is unknown?
_________________________
TryingToComply
CRCM

Return to Top
BSA/AML/CIP/OFAC Forum
#2217117 - 07/08/19 01:58 PM Re: ACH Fraud - Phone Payment to Credit Card TryingtoComply
ColoradoAML Offline
100 Club
Joined: Mar 2018
Posts: 241
In these cases I file and name the beneficiary as the suspect. If our case ends at a single (or multiple) person who appears to have benefited, we label them as a suspect, considering them either a fraudster or a money mule, witting or unwitting. I agree that in most of these cases they are a victim, but for consistency if we don't have evidence that that's the case, we file and let law enforcement sort it out.

Return to Top
#2217130 - 07/08/19 02:53 PM Re: ACH Fraud - Phone Payment to Credit Card TryingtoComply
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,408
Cape Cod
I'd add an "amen" to ColoradoAML's response. Whether victim or actual fraudster, your info points to the individual you believe benefited from the transfer.

If you can't accept naming that individual as the subject of the SAR (remember, you aren't tagging anyone as a "suspect," since that's law enforcement's responsibility), you should still file, even for $7,500, to get this on LE's radar screen. Then make sure to identify that person in the narrative so LE at least has that info to work with.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top
#2217158 - 07/08/19 07:10 PM Re: ACH Fraud - Phone Payment to Credit Card TryingtoComply
TryingtoComply Offline
Diamond Poster
Joined: Apr 2013
Posts: 1,829
The West
Thanks all!
_________________________
TryingToComply
CRCM

Return to Top

Moderator:  Andy_Z