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#506165 - 02/28/06 08:33 PM SAR on transactional activity
Tocomply Offline
Platinum Poster
Joined: Nov 2004
Posts: 650
We have a lot of customers that deposit funds one day and withdrawal within a short period e.g., two or three days. The deposits are EFT transactions in and out from one bank then out to another. The pattern of activity is usually consistent for these customers so the transaction profilo does not send a red flag but the amounts do.
I think they may be rate shopping for money market accounts but without actually contacting them we have nothing to support my opinion. Management doesn't want us to call because of all the privacy issues (people told not to provide any information on the phone because it could be someone trying to steal your ID). Suggestions? Please!!!

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#506166 - 02/28/06 09:59 PM Re: SAR on transactional activity
Czargazer Offline
Gold Star
Czargazer
Joined: May 2003
Posts: 298
Pacific Northwest
Call the customer and ask for an in person visit? You can always use the pretense that you're concerned about the activity on their accounts, and would like to know if there are any services you could provide that they are getting elsewhere.
_________________________
Everyone has to make a living, mine just happens to involve thumbscrews.

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#506167 - 03/01/06 07:40 PM Re: SAR on transactional activity
Tocomply Offline
Platinum Poster
Joined: Nov 2004
Posts: 650
We are an internet bank. These customers are from all over the map.

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#506168 - 03/01/06 08:16 PM Re: SAR on transactional activity
MagicCity Offline

Power Poster
MagicCity
Joined: Apr 2003
Posts: 3,003
Fort Lauderdale, Florida
Do you obtain Expected Activity on your application form?

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