Financial Crimes Enforcement Network Advisory: Updated Advisory to Financial Institutions on Filing Suspicious Activity Reports Regarding Loan Modification/Foreclosure Rescue Scams, June 17, 2010 [open pdf - 53KB]
"The Financial Crimes Enforcement Network (FinCEN) is issuing this advisory to supplement the guidance in its advisory of April 6, 2009, regarding loan modification and foreclosure rescue scams (April 2009 Advisory). Continuing fraudulent activity in the housing market and recent adjustments and promotions related to the Home Affordable Modification Program (HAMP) and other Federal programs2 is the impetus for issuing this advisory. With increased consumer activity in these programs, incidents of modification and foreclosure 'rescue' schemes also could increase. Information contained in this advisory is intended to inform and assist financial institutions when filing Suspicious Activity Reports (SARs) regarding such activities. Additional information on foreclosure rescue schemes and mortgage fraud in general may be found on the Mortgage Fraud Section3 of FinCEN's website."
FinCEN Advisory FIN-2010-A006
Financial Crimes Enforcement Network: http://www.fincen.gov