Our customer reported checks stolen on their account. They filled out the necessary forms, and we placed an alert on their account regarding the stolen checks and check sequence numbers and placed stop payments on the stolen checks. The following day, one of the stolen checks was presented for cash. However, the teller told the person we could not cash it because there had been a stop payment placed on the check. She did NOT give the check back to the person, but she did let the person leave the bank. Was it the bank's responsibility to call the police while the person was still there or should we have just contacted our customer and let them handle the matter with the police department?
We have an account that has been closed for several years due to the account being compromised. We recently have had some checks come through our cash letter and want to know the best reason to provide for returning them. I don't want to return them as forgeries because I do not have an affidavit signed by the customer. Is there a reason of "account closed at customer's request due to forgery"? Our processor says they can not use this reason.
I was told by an examiner a few years ago that a bank is not required to report a SAR to its Board of Directors if the SAR involves a member of the Board. That provides protection for the person filing the SAR. Is that correct? If yes, where can I find that information? Thank you.
Are you aware of any bank using a "Counterfeit Check Stamp" for the purpose of stamping a check at the time of presentment at the teller line?
Can we stop an elderly customer from withdrawing all of their money to send to a Prize Scam? We have police, attorney and family involved. No-one can convince her she is not getting $3.2 million for $65,000.