Answer by John Burnett:
If you believe this person was involved in an identity theft, you may file a SAR even if your bank experienced no loss and witnessed no actual monetary fraud. Filing on amounts under $5,000 is permissive.
You might also consider notifying law enforcement directly. If this person attempted to use the bogus SSN at your bank, it's likely it will happen again somewhere else.
Answer by Lucy Griffin:
At ABA's recent Anti-Money Laundering Enforcement conference, several law enforcement types urged banks to file SARS, regardless of amounts, if they involve identity theft, fraud scams, or terrorism. All information on these topics is helpful. I also agree with John that making a phone call to the appropriate law enforcement agency might be a good idea.
First published on BankersOnline.com 2/17/03