Sanitised case 6
A SAR was submitted due to concerns raised by a member of staff during the KYC/KYB update process on one of their customers.
A close relative of the customer had written in advising that the customer was away and couldn’t be contacted but will furnish the requested documentation as soon as possible.
On researching the customer, it appeared that he had been unobtainable for a number of years, his income and wealth did not match up with his stated occupation and there was a suspicion that the actual customer did not exist and was a fictional name created for the purpose of a scam due to the lack of KYC/KYB information.
Enquiries were conducted with two Police forces and another law enforcement agency in the UK with nothing adverse being established on the customer, however,those enquiries were able to verify that the customer did actually exist.
The information contained within the SAR did initially appear suspicious to the case officer in JFCU, however, enquiries eliminated any direct criminality and consent to exit the relationship was granted to the disclosing institution as requested.
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