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Inactive Financial Institution Letters

Bank Secrecy Act
The Suspicious Activity Report Activity Review, May 2006 Issue
June 27, 2006

Summary: The tenth (May 2006) issue of The SAR Activity Review – Trends, Tips, & Issues, published by the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), is now available.

  • On May 31, 2006, FinCEN released the tenth edition of The SAR Activity Review – Trends, Tips & Issues. This issue focuses on the money services business (MSB) industry.
  • Article topics include the use of Suspicious Activity Reports (SARs) to detect unregistered MSBs and guidance on registration and deregistration of a business as an MSB.
  • This issue also identifies current trends in mortgage loan fraud, as well as filing activity and detection of unlicensed/unregistered MSBs.
  • Law enforcement cases based on SARs and other Bank Secrecy Act data are highlighted. Cases focus on multiple types of illicit financial activity.
  • Guidance on SAR preparation and filing is also provided.
  • The current edition of The SAR Activity Review can be found at:
  • Further information about FinCEN, including previous issues of The SAR Activity Review, is available at
  • Please distribute this information to the appropriate personnel in your institution.

FDIC-Supervised Banks (Commercial and Savings)

Suggested Routing:
Chief Executive Officer
BSA Compliance Officer

Related Topics:
Suspicious Activity Reports


Review Examiner Debra Novak, Division of Supervision and Consumer Protection, at or (202) 898-3673

Printable Format:
FIL-55-2006 - PDF 37k (PDF Help)

FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at

To receive FILs electronically, please visit

Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or 703-562-2200).

Last Updated 06/27/2006

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