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Highlights:
- FinCEN has issued the eleventh edition of The SAR Activity Review
By the Numbers. The report compiles numerical data gathered from Suspicious Activity
Reports (SARs) filed primarily by depository institutions. SAR data is also compiled for certain
segments of the following industries: insurance, securities and futures, money services
businesses, as well as casinos and card clubs.
- As of June 30, 2008, over 6 million SARs had been filed with FinCEN. Of that total, 3.7 million
- or 62 percent - were filed by depository institutions.
- Bank Secrecy Act/Structuring/Money Laundering continues to be the leading characterization of
suspicious activity by depository institutions.
- The first two quarters of 2008 reiterated the continued upward trend of mortgage loan fraud and
identity theft. During the same period, reported instances of terrorist financing have continued
to decline every year since 2004.
- Mortgage loan fraud SARs increased by approximately 40 percent, consumer loan fraud filings
increased 35 percent, and wire transfers fraud SARs increased 87 percent compared to the
corresponding six-month reporting period in 2007.
- The SAR Activity Review By the Numbers is published twice annually
covering two filing periods: January 1 to June 30, and July 1 to December
31. The report can be accessed at: http://www.fincen.gov/news_room/rp/files/sar_by_numb_11.pdf.
419K (PDF
Help)
- The SAR Activity Review By the Numbers is a companion report to The
SAR Activity Review – Trends, Tips & Issues.
Distribution:
FDIC-Supervised Banks (Commercial and Savings)
Suggested Routing:
Chief Executive Officer
BSA Compliance Officer
Related Topics:
Bank Secrecy Act/Anti-Money Laundering Programs
Attachment:
None
Contact:
Anti-Money Laundering Specialist Marie Edwards at
SASFIL@FDIC.gov or (202) 898-3673
Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at: http://www.fdic.gov/news/news/financial/2009/index.html.
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 3501 Fairfax
Drive, Room E 1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).
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