02/21/2011
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?
10/25/2010
What is the timeframe for returning a check that our customer notifies us is a forgery? What are the regs that pertain to this?
10/18/2010
Today, 10/6/10, we received multiple checks returned to our bank. They were all from one account at the paying bank, dated June through September. They were returned as forged signatures. I believe the liability falls on the paying bank, as these were not returned by the midnight deadline. What is the proper way to send these back to the paying bank? Do we do a check adjustment and state untimely return?
09/27/2010
What/where does one report insider banking fraud that includes the vice president, producing fraudulent checks with wrong routing numbers, and handing out wrong direct deposit forms?
08/02/2010
As security officer for my bank, I get to handle the bank's larger check fraud cases in an attempt to recover losses. I was just handed a $25,000 check that was deposited in June (today is July 27). Our bank received it back in yesterday's return item cash letter. The check was stamped "stop payment" and it has a processing endorsement of the paying bank that's dated 06-22-10. When I called the paying bank, I was told that their customer called in a stop payment on the check on July 20 after opening their bank statement and seeing the check. Isn't this a late return, and wasn't the paying bank's customer's stop payment order too late? Should my bank absorb this loss?
06/14/2010
We have a kiting scenario come to life, and I want to make sure I am covering all my bases. A SAR will be filed. What law enforcement should be contacted: FBI or local? This is a very large amount, do I need to notify our primary regulator? If so, how soon?
05/17/2010
Can we give a customer a photo from the bank's surveillance of a person who committed fraud against him?
03/08/2010
Is it necessary to file a SAR on customers who write checks in excess of $5,000 on a closed account, when there is no loss to the bank? What about filing a SAR when a customer writes a check in excess of $5,000 and the check returns NSF? We have never heard of this, but are being told by our AML are that it is required.
03/01/2010
A check came across our non-post, and upon review it was revealed that the wife of the account holder had forged his signature and wrote the check to pay a bill. This appears to be a regular occurrence. The wife is not on the checking account. Does this constitute fraud or violate any other rules or regulations?
01/18/2010
Whenever we file a SAR for check kiting, we place a message on the customer's screen, so we will not accept checks from the other bank involved. We do this instead of closing the account. Does anyone else do this? If so, what do you tell your customer? I know we cannot say anything about the SAR or that we have knowledge they are kiting, so what else can we actually tell them for an explanation?