Credit Card Fraud Flag & SAR

A person applies for a credit card at an issuing bank and the application is declined due to a fraud flag (Iocation IP address, prior fraud address, prior fraud phone number, etc) and the credit line that would have been assigned to the credit card account would have been $5,100. Would a SAR need to be written in this case due to the fact that there is a possible suspect with a possible usage of over $5,000? A person applies for a credit card and it turns out to be a fraudulent application with a credit line of $5,100. No transactions take place on the card and the account is closed. Would a SAR need to be written in this case due to the fact that there is a possible suspect with a possible usage of over $5,000?