Skip to content

SAR Filing on Counterfeit Checks

Answered by: 

Are banks required to file an SAR for Counterfeit Checks received, but not transacted, in the amounts over $25,000.00 if we have no information on the suspects?

I assume you're describing situations in which a customer brings a check to you for deposit and you determine somehow that the check is counterfeit and that your customer has been targeted as a victim in a check fraud. Unhappily, I believe you are required to file a SAR in such a case. I'd advise keeping a copy of the check in question (in case you've had to hand it back to your customer or to law enforcement) as a resource in completing the sketchy SAR you'll have to complete. The filing instructions require you to file when your institution is involved (or could have been involved) in what you suspect is illegal activity, if the amount involved is $25,000 or more, even if you don't have a suspect in mind.

First published on 8/28/06

First published on 08/28/2006

Filed under: 
Filed under security as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics