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#2187816 - 08/02/18 05:51 PM SAR Updates
Compliance Risk Offline
Member
Joined: Sep 2015
Posts: 90
If you submit a SAR for check fraud and during the 90 day review you see they made a deposit to the checking account of $600, do you update the SAR? Do you update the SAR loss or just note the reduced loss in the narrative?

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#2187821 - 08/02/18 05:59 PM Re: SAR Updates Compliance Risk
Daisy Doodle Offline
Diamond Poster
Joined: Feb 2014
Posts: 1,030
Southern U.S.
If I filed a continuing SAR I would note the decreased loss and recovery amount. But if no new suspicious activity had taken place I would not be filing a continuing SAR in order to track for FinCen the outstanding loss to the bank. Usually those accounts are closed after the fraud.

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