Posted By: Anonymous

SAR - 11/17/11 06:29 PM

If someone forged a signature on a "2 signature required account" (signed both names on the check) are we required to file a SAR? They admitted signing both names, the other person is no longer affiliated with the account and thought they had been removed/replaced by someone else a long time ago.

Thanks ahead of time for any help someone can give. smile
Posted By: Anonymous

Re: SAR - 11/17/11 06:56 PM

It really depends on whether their corporate docs and signature card were updated as appropriate. It seems like a matter of operations rather than BSA.
Posted By: Rocky P

Re: SAR - 11/17/11 06:57 PM

If the check amount hit the minimum $5000 threshold.
Posted By: ACBbank

Re: SAR - 11/17/11 07:02 PM

If it hits the threshold, it sounds like check fraud to me. This would require an SAR.
Posted By: Anonymous

Re: SAR - 11/17/11 07:18 PM

Thanks for all your help !
Posted By: Anonymous

Re: SAR - 11/17/11 07:33 PM

Forgery is Forgery there is no excuse. A SAR should be filed.
Posted By: West Coast Comp

Re: SAR - 11/17/11 09:16 PM

I would agree that it is fraud.