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#2262552 - 11/16/21 05:09 PM Scam Occurred Outside of Bank
ItsJustMe Offline
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Joined: Dec 2009
Posts: 298
New York
If we suspect scams for a competent, independent, but elderly person that are occurring outside the bank (no banking transactions), should we file a SAR?

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#2262553 - 11/16/21 05:41 PM Re: Scam Occurred Outside of Bank ItsJustMe
Local_Banker Offline
Member
Joined: Jun 2019
Posts: 76
You can always voluntarily file a SAR. To me, it would depend on how much info I had about the scam, subjects, amounts, etc.

Also, even if you don't file a SAR you might consider an elder services referral.

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#2262555 - 11/16/21 05:46 PM Re: Scam Occurred Outside of Bank ItsJustMe
ItsJustMe Offline
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Joined: Dec 2009
Posts: 298
New York
Thank you so much! I was thinking along the same way but appreciate hearing confirmation :-)

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#2262582 - 11/16/21 10:37 PM Re: Scam Occurred Outside of Bank ItsJustMe
Andy_Z Offline
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On the Net
I would be in the camp of a referral. How likely is it that the bank has sufficient info to file a SAR such that someone in law enforcement is going to see it and be able to act on it? I have no faith in that. But some elder abuse/referral organization that is more likely to contact the person and more likely to be able to prevent further harm.
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#2262585 - 11/17/21 05:04 AM Re: Scam Occurred Outside of Bank ItsJustMe
InFairness, CRCM Offline
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InFairness, CRCM
Joined: Nov 2010
Posts: 919
USA
In some states, financial institutions are mandatory reporters with respect to elder financial exploitation. I know that's the case in my home state.
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#2262610 - 11/17/21 08:51 PM Re: Scam Occurred Outside of Bank ItsJustMe
ColoradoAML Online
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Joined: Mar 2018
Posts: 338
I agree. Here this would warrant a report to whatever agency the state directs, and we would not file a SAR. SARs are required for transactions conducted or attempted through the FI. I wouldn't use a SAR to report something that wasn't related to the FI.

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