Need opinions and/or different perspectives on a situation:

Elderly client has already been victimized by a sweepstakes scam. Much education and consultation has been provided to this client. Account has been closed and new one reopened. However, it was recently discovered that he is still in communication with said scammers and he very much believes this is real and he is about to "hit it big"....and has written two more checks to these "people" which have not yet cleared and he does not want to stop pay them.
We cannot seem to get him to understand. Normally, we would just close the account (again) after exhausting all efforts, explain why and file a SAR - with almost NO details to provide might I add....but in this case we do not feel that is benefitting this client at all. And to name him as a "subject" for allowing it to happen also does not feel right because he truly does believe this is not a scam because he has a 13-page document to prove it :::sigh::::.

I feel like there is more that can be done, I am just not exactly sure what.

Any suggestions appreciated.
Very torn on this one.

Other than contacting family members who are joint owners on the account (if any) or contacting adult protective services due to your concerns of elder financial exploitations you have no other options.

I would close the account before these new checks clear and not open another one for them. They are victim, why would you file a SAR on them as a suspect?

The only other family member on account is wife and she believes as well. Thank you for reply!

We considered the immediate closing of the account prior to them clearing, yes - since we know this is fraud - but also thought seeing one of the checks would provide more details on the perpetrators for a SAR filing - but also resulting in further loss to the client.

As for client being a "subject" - that is what I am trying to avoid. Normally if you tell someone to stop and they don't, you close the account and file accordingly - with them essentially assisting the fraudster in the scheme because of their willingness to......however, this client has a heart of gold for lack of better words and truly does not believe he is being taken. He is not just disregarding what we are saying because it's his money and he can do what he wants with it. If that makes sense.

Perhaps I am overthinking this one....I tend to do that sometimes. I am just trying to do what is absolutely best for our client while mitigating our risk as well. Thank you for your reply!

Depending on your state law, reporting to law enforcement, reporting to state department of banking, reporting to adult protective services, and filing SARs may be required.

That is part of the dilemma, this is a "sweepstakes" scam. With the scammer only who knows where (client has not provided us with any details to go on) - we only have limited information off checks he'd already written to them - out of state.

I know reporting to all of the above most definitely comes into play when there is suspicion involving an actual person/business exploiting but in this case....I feel like I have nothing to offer. A needle in a hay stack.....

Thank you for your reply - lots to think about with little time.

Update: Client has finally agreed to bring us documents to review! One time in my career I really hope to be wrong about my gut feeling


Thank you all again.

I hope you're wrong too, but surely you're not. This is not how real sweepstakes work.

I agree with rlcarey; close the relationship. It might be the action that would finally convince them that they're being taken for a ride, and if not then it's another bank letting them fall victim to a scam. It's not explicitly our job to protect customers from themselves, but this customer is going to send all his money to criminals and it appears that closing the account is the only way you may be able to stop it.