It’s not an uncommon situation to discover a customer that has cashed a fraudulent check. For example, one that was provided to them for goods they 
sold or services they provided. When this happens, we sometimes see banks incorrectly provide “Suspect Information” about the customer in Part II of the Suspicious Activity Report. Remember, your customer is the victim of a crime, not the suspect. The suspect is the person, if known, who defrauded your customer via the transaction and should be listed in Part II. Information about the customer/victim could be included in the narrative portion of the Suspicious Activity Report if necessary.
Are you looking for some guidance and best practices when it comes to SAR completion? Or maybe just suspicious activity monitoring in general? Join us on August 31, 2017, for our “All About Suspicious Activity Monitoring & Reporting” webinar where we will address these issues and much more.
Published
2017/08/24
Deb Irving
Deb joined Banker’s Compliance Consulting with twenty years of experience in the banking industry. Her past positions include teller, credit review analyst, assistant financial officer, BSA Officer, Compliance Officer, and Director of Compliance. She has worked for both a small community bank and a large billion-dollar bank.
Deb has Associate Degrees in Business Management and Accounting. She is a graduate of the American Bankers Association National Graduate School of Compliance Management, an honors graduate of Schools of Banking Compliance School, and a graduate of Schools of Banking Advanced School of Banking. Deb’s considerable knowledge and experience make her a valuable member of the Banker’s Compliance Consulting Team. Deb is a Certified Regulatory Compliance Manager (CRCM) and a Certified Anti Money-Laundering Specialist (CAMS).
Deb loves to spend her free time cycling, running, kayaking and weight lifting with her husband. Between them, they have three adult children and six grandchildren. Other interests include anything outdoors and anything she hasn’t done or seen yet!