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#750987 - 06/11/07 09:15 PM Identity theft procedures
Fork Ate Spoon Offline
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Fork Ate Spoon
Joined: Aug 2003
Posts: 2,261
Between Here and There
I was hoping somebody might be able to help me out. I was needing some procedures (steps to take) as for as what to do once a loan/loan application (or identity theft in general) was deemed to be fraudulent. I don't know if anybody has this that they would be willing to share?

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#751238 - 06/12/07 02:41 PM Re: Identity theft procedures Fork Ate Spoon
LoisLane Offline
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LoisLane
Joined: Oct 2001
Posts: 1,570
Wisteria Lane..
Once an application is deemed to be fraudulent, I would send an adverse action to that consumer and file a SAR.
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#752169 - 06/13/07 02:52 PM Re: Identity theft procedures LoisLane
Fork Ate Spoon Offline
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Fork Ate Spoon
Joined: Aug 2003
Posts: 2,261
Between Here and There
Yes, but I was hoping if anyone out there in BOL land happen to have something in their policy as far as steps to take once ID theft occurs. Like when a Loan (funds distributed) is fradulent, what steps should a bank take and what should they advise the customer to do. I know we need to file a SAR, and after proper documents have been filed by customer we need to release all documents on loan to them, ect.. I have items that I know, but I wanted to make sure I'm not missing out certain necessary steps that may be overlooked on my part. I've searched around the net but can't seem to find much. It hasn't occurred, but in the off chance it does we want this set in place so the employee knows what actions to take..

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