Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums BSA/AML/CIP/OFAC Forum SAR filing threshold
Thread Options
#1293722 - 11/25/09 06:05 PM SAR filing threshold
Compliance4521 Offline
Platinum Poster
Compliance4521
Joined: Jan 2007
Posts: 533
Washington
Customer depositeded a counterfeit check in the amount of $24,744. There is no suspect identified.

Does this fit within the threshold of not requiring a SAR?

Return to Top
BSA/AML/CIP/OFAC Forum
#1293756 - 11/25/09 06:32 PM Re: SAR filing threshold Compliance4521
Kelsey D Offline
Platinum Poster
Joined: Aug 2006
Posts: 516
Ohio
If you suspect that the customer knew that the check was conterfeit, then yes. The customer is your suspect, and the threshold of $5,000 is exceeded. If you believe that the customer was a victim, then no. The suspect is unknown, and the $25,000 threshold was not met.
_________________________
Don't make me say, "I told you so!" Sincerely, your friendly Compliance Officer.

Return to Top
#1293757 - 11/25/09 06:32 PM Re: SAR filing threshold Compliance4521
Kelsey D Offline
Platinum Poster
Joined: Aug 2006
Posts: 516
Ohio
If you suspect that the customer knew that the check was conterfeit, then yes. The customer is your suspect, and the threshold of $5,000 was exceeded. If you believe that the customer was a victim, then no. The suspect is unknown, and the $25,000 threshold was not met.

Sorry for the double post! I got click happy!
Last edited by Kelsey D; 11/25/09 06:33 PM.
_________________________
Don't make me say, "I told you so!" Sincerely, your friendly Compliance Officer.

Return to Top
#1293781 - 11/25/09 06:42 PM Re: SAR filing threshold Kelsey D
Compliance4521 Offline
Platinum Poster
Compliance4521
Joined: Jan 2007
Posts: 533
Washington
Thank you for the through explanation. Much appreciated.

Happy Thanksgiving

Return to Top

Moderator:  Andy_Z