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#499943 - 02/16/06 02:52 PM Filing a SAR
CrashDavis Offline
Gold Star
Joined: Jun 2005
Posts: 283
We had a situation the other day where a customer stole a check from her in-laws and forged the check and made a deposit to her and her husband account. She then requested an address change on her in-laws checking account. Our procedures allowed the in-laws to find out. We have not taken a loss in this situation but the in-laws have turned this over to the police and is supposed to press charges against the daughter in law. My question in this situation do I file a SAR in this case.

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#499944 - 02/16/06 03:00 PM Re: Filing a SAR
JacF Offline

Power Poster
Joined: Nov 2001
Posts: 6,719
PA
If the aggregate transaction amount was $5000 or greater, than the SAR is mandatory. For smaller amounts, the SAR is allowed, but not required.

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#499945 - 02/16/06 03:02 PM Re: Filing a SAR
CrashDavis Offline
Gold Star
Joined: Jun 2005
Posts: 283
I just found out the answer. The amount was under $5,000.00 so I won't have to file.

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