Legal Steps for Business Remote Capture Deposit

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Question:

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?

Answer:

If the dollar amount of those checks aggregates to more than $5,000, I'd definitely file a SAR for bank fraud.

If you have been able to charge those checks back to the account successfully, you'll want to watch carefully for others coming back. I do suggest closing the account, but holding off on sending out a check for the balance until you're reasonably sure you're covered by the midnight deadline for any future returns.

If you sustain a loss, contact bank counsel about the feasibility of filing charges. It might not be worth the cost to do so.

First published on BankersOnline.com 10/31/11