SAR Activity Review: Trends Tips & Issues: Issue 13   [open pdf - 782KB]

"The SAR Activity Review -- Trends, Tips & Issues is a product of continuing dialogue and close collaboration among the nation's financial institutions, law enforcement officials, and regulatory agencies1 to provide meaningful information about the preparation, use, and value of Suspicious Activity Reports (SARs) filed by financial institutions. This edition reflects several important topics relevant to the community of SAR filers and SAR users. As usual we have included many examples of how law enforcement makes good use of the Bank Secrecy Act (BSA) data. We are also highlighting three recent Financial Crimes Enforcement Network (FinCEN) SAR analytical reports: 1. Insurance Industry Suspicious Activity Reporting: An Assessment of Suspicious Activity Report Filings. 2. Mortgage Loan Fraud: An Update of Trends based Upon an Analysis of Suspicious Activity Reports, and 3. Money Laundering in the Residential Real Estate Industry: An Assessment Based Upon Suspicious Activity Report Filing Analysis. These reports reflect our continual efforts to offer informative and useful feedback to benefit both SAR users and SAR filers. Below is a summary of topics addressed in this issue. Section 1: Director's Forum; Section 2: Trends and Analysis -- the executive summaries of three recent FinCEN SAR analytical reports are provided. Section 3: Law Enforcement Cases -- examples of how the BSA data played a role in healthcare fraud, tax evasion, and drug gang investigations. Section 4: Issues & Guidance -- an informative article on the wealth of information contained in Currency Transaction Reports and Suspicious Activity Reports is submitted by the New York State Banking Department. Section 5: Industry Forum -- Robert G. Rowe III, Senior Regulatory Counsel for the Independent Community Bankers of America (ICBA) provides insightful comments. Section 6: Feedback Form."

Report Number:
SAR Activity Review No. 13
Public Domain
Retrieved From:
Financial Crimes Enforcement Network (U.S.): http://www.fincen.gov/
Media Type:
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