Posted By: aklynn
SAR Calculation Amount - 04/26/16 05:00 PM
Hi All,
I need a little help determining the best amount to use for a SAR. It is a loan fraud/forgery situation.
Example:
1) A loan for $50,000 was made "Loan A". Payments were paid for two years.
2) A loan for $75,000 was made "Loan B" where the balance of the previous loan "Loan A" was paid off and the remaining funds were deposited into a checking account. Payments on the new loan were paid for two years.
3) A loan for $100,000 was made "Loan C" where the balance of the previous loan "Loan B" was paid off and the remaining funds were deposited into a checking account. This loan was found to be suspicious and research found the previous two loans.
Would you consider the amount of suspicious activity for the SAR to be $50,000 + $75,000 + $100,000 = $225,000?
Or, the total amount of the highest loan (since the first two were paid off from subsequent loans) = $100,000?
Or, another amount?
Just trying to make sure I'm thinking this through. Any help would be greatly appreciated!
I need a little help determining the best amount to use for a SAR. It is a loan fraud/forgery situation.
Example:
1) A loan for $50,000 was made "Loan A". Payments were paid for two years.
2) A loan for $75,000 was made "Loan B" where the balance of the previous loan "Loan A" was paid off and the remaining funds were deposited into a checking account. Payments on the new loan were paid for two years.
3) A loan for $100,000 was made "Loan C" where the balance of the previous loan "Loan B" was paid off and the remaining funds were deposited into a checking account. This loan was found to be suspicious and research found the previous two loans.
Would you consider the amount of suspicious activity for the SAR to be $50,000 + $75,000 + $100,000 = $225,000?
Or, the total amount of the highest loan (since the first two were paid off from subsequent loans) = $100,000?
Or, another amount?
Just trying to make sure I'm thinking this through. Any help would be greatly appreciated!