In suspicious activity reporting, how long after the original SAR is filed should the bank track and try to connect to that ring before filing a new SAR. Updates or amendments to SAR's filed in the past seem to diminish the value of the information if we are updating reports from sometimes years in the past.
We recently had a business customer deposit checks at our office. This business also has an account at another bank with remote capture. We received several checks that are already being deposited by remote capture from this business. What are the legal steps to take with this customer? Freeze account? SAR? Charges?
I'm new to BankersOnline.com and also to compliance. I am trying to find some training materials relating to the USA Patriot Act that I could potentially use as a model for staff training at our bank. Can you point me in the right direction?
Is it legal for a bank to "create" several documents from one signature? What would the violation be called? Would it be fraud, falsifying documents,etc.? This took place on a security agreement for a commercial loan. What would the penalty be for such an offense? We are located in Arkansas.
If we file a SAR on a customer for structuring deposits, can they later be made exempt?
It has been determined that a customer has fraudulently indicated employment on a loan application. At the time of the application he was employed, but at closing he had been terminated and did not notify the lending officer of his change in status. Other than a SAR, what else should I pursue to report this situation?
I need to file a SAR on a customer whose account was opened before the PATRIOT ACT... which means that there is no DL information on the customer’s account. Short of calling the customer, I have no way of getting this information. Can I complete the SAR and leave the ID information section blank or is that a "no-no"?
We had 3 cases of debit card fraud totaling over $10,000 (one over $7,000) but all were linked to the same store where the debit card information was stolen. We do not know the identification of person or persons involved in stealing the information. Would these cases warrant SARs being completed?
If a Secret Service Agent comes to review information filed in a SAR on a customer, will he need a subpoena?
SARs must be filed within how many days of detecting a suspicious activity?