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In the event someone attempted identity theft at our bank, but we caught it and therefore didn’t suffer a loss, do we not have to file a SAR?

Question: 
In the event someone attempted identity theft at our bank, but we caught it and therefore didn’t suffer a loss, do we not have to file a SAR?
Answer: 

When assessing whether the threshold amount trigger would be met to trigger a SAR filing, you don’t just look at the amount of an actual loss, but you look at the amount involved in the attempted identity theft. In addition, if the threshold trigger is not met with the amount that could have been involved, you can voluntarily file anyway, if you think there is information that could be helpful.

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Bank Obligations to ID Theft Victims

First published on 12/17/2017

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