What's a SAR? I'm familiar with the acronym SIR for security incident reports, which is what our bank would file if we had suspicions about a case of financial exploitation of an elder or vulnerable adult.
Per FEEVA regulations, the unauthorized transfer of funds plus Barb being over the age of 65, is all the qualifiers that would require the bank to report it as a potential FEEVA issue.
I also really doubt law enforcement called the bank yet. If this was Chris stole Barb's debit card maybe they would, but if the story is Barb often lets Chris send funds out the account using her login credentials, then I'm not so sure the cops will take it serious.
I have heard and had some limited exposure to cops investigating bank fraud, and what I've gathered is how serious the local police take it is rather hit or miss.