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#2234540 - 04/09/20 07:58 PM SAR-Fraud
Jenny Roberts Offline
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Joined: Feb 2014
Posts: 162
Tennessee
We have a customer in which 2 wires were sent out and found out it they were fraudulent. We, the bank, did call back verification appropriately but the person that verified didn't realize that it was a fraudulent email address until after they were sent. Now, it appears they may have check fraud going on. Does this constitute a SAR being done?

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#2234541 - 04/09/20 08:03 PM Re: SAR-Fraud Jenny Roberts
Skittles Offline
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Skittles
Joined: Sep 2002
Posts: 13,963
TN
Do you have a suspect - and what's the dollar amount of the wires?
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#2234543 - 04/09/20 08:06 PM Re: SAR-Fraud Jenny Roberts
BrianC Offline
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BrianC
Joined: Nov 2004
Posts: 6,322
Illinois
FinCEN's advisory on email compromise schemes will give you all the info you need evaluating if a SAR should be filed and how it should be completed if it is needed.

https://www.fincen.gov/sites/defaul...dated%20BEC%20Advisory%20FINAL%20508.pdf
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#2234544 - 04/09/20 08:09 PM Re: SAR-Fraud Skittles
Jenny Roberts Offline
100 Club
Joined: Feb 2014
Posts: 162
Tennessee
We don't have a suspect and they were $8,000 each.

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#2234546 - 04/09/20 08:12 PM Re: SAR-Fraud BrianC
Jenny Roberts Offline
100 Club
Joined: Feb 2014
Posts: 162
Tennessee
Thank you!!

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#2234605 - 04/10/20 05:19 PM Re: SAR-Fraud Jenny Roberts
Local_Banker Offline
Member
Joined: Jun 2019
Posts: 53
I might consider the wire counterparties as a suspect if they are receiving funds as part of a fraud scheme. FinCEN also has a designated cyber event box for suspicious email addresses. So you might actually have a suspect depending on the facts and circumstances.

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