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Require SAR Filings Regardless of Amount?

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There has been quite a bit of debit card fraud occurring at the bank with various customers. Should this require a SAR filing regardless of the dollar amount?

Unless you can identify a suspect and the total amount is $5,000 or $25,000 if you can't identify a suspect - no.

You can always voluntarily file a SAR, if you think you have enough information to make it worth it to law enforcement. Most of the time, that would not be the case.

First published on 04/26/2020

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