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#2247310 - 01/07/21 02:44 PM What Dollar Amount To Use For SAR Filing?
Crazy Bank Lady Offline
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Crazy Bank Lady
Joined: Jun 2005
Posts: 105
Missouri
We are discussing what amount to report on a fraudulent wire that was sent, but was able to be stopped and the money returned to bank/customer. Example - If our bank sends a $100,000 wire that is found to be fraudulent, but was able to be intercepted before final destination and the $100,000 returned to our bank, do I report the amount of the SAR as $100,000 or $200,000. Would you please include the location of any citations/FAQ's that contain this information? Thank you.

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BSA/AML/CIP/OFAC Forum
#2247314 - 01/07/21 03:25 PM Re: What Dollar Amount To Use For SAR Filing? Crazy Bank Lady
ColoradoAML Offline
100 Club
Joined: Mar 2018
Posts: 241
The transmission of the fraudulent wire is suspicious, so it should be reported. Intercepting and returning the funds is not suspicious, so I don't see any reason it would be reported as a suspicious transaction.

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