FinCEN released its 18th issue of its SAR Activity Review: “By The Numbers” and its 23rd Issue of SARs: “Trends, Tips &Issues” today. The documents are full of useful information with respect to filing suspicious activity reports.
Here are just a couple examples of what you will find:
- The report discusses elder financial exploitation and provides data showing an increase in SAR filings for this type of activity. These filings continue to trend upward even a year and a half following FinCEN’s advisory. Some of the common reports indicated activity such as: identity theft, check kiting, self-dealing and theft.
- The report discussed the trends with respect to insider abuse with the employee category far exceeding any other category of insider abuse reported. However, the volume of these reports has increased in recent years.
- The report also provides information with respect to SARs and vulnerabilities and reporting trends.
Furthermore, you will find several law enforcement case examples and guidance of the use of SAR check box items. If you are looking for some quality reading with respect to BSA, you have found it. These documents are an excellent resource to use when building your 2013 BSA training program. If you like graphs, charts and data, this is right in your wheel house.