I know I have seen threads on this before--

We have individuals that will provide us with a SSN because they think they have to have one in order to open an account or apply for a loan. They might have a TIN or they may not have any type of US-issued number. In any regard, the SSN provided to us at one point in time is not actually assigned to the individual.

Are you all filing SARs on this every time it comes up? I think a lot of it is misunderstanding as it happens so often that we don't even find it suspicious anymore unless it is coupled with other indicators of intended fraud.

In these instances, the SSN is purchased from someone that the individual believes has the ability to "sell" a SSN to them so they can enter into the banking system.

It is not what you feel. It is a matter of whether or not illegal activity has taken place.

Would you deem this illegal activity?

Open a deposit account - maybe not. Apply for a loan - there is no doubt.


18 U.S. Code § 1344. Bank fraud

Whoever knowingly executes, or attempts to execute, a scheme or artifice—

(1) to defraud a financial institution; or

(2) to obtain any of the moneys, funds, credits, assets, securities, or other property owned by, or under the custody or control of, a financial institution, by means of false or fraudulent pretenses, representations, or promises;

shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.