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Suspicious Amount Total for Account Takeover (SAR)

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When ​an account ​t​akeover is involved, does the bank ​file a Suspicious Activity Report only on the amount successfully obtained by the fraudster or does the bank report on the full account balance available at the time of the ​account ​​takeover? ​For example: John has $5,000 in his account. John is a victim of ​an a​ccount ​t​akeover and has $2,500 removed from his account before the account is closed. What is the suspicious total involved?

Report the "amount involved." In your example, $2500.

"Account takeover" is generally used to describe circumstances where the customer is an entity, not an individual.

First published on 08/27/2017

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