On February 11, the US Treasury’s Financial Crimes Enforcement Network (FinCEN) released its ninth issue of SAR Activity Review – By the Numbers. The report is a compilation of numerical data gathered from suspicious activity reports (SARs) filed between January 1 and June 30, 2007. The report is published by FinCEN twice yearly.

Some notable findings in the report include the following: (i) although the number of filings by depository institutions increased over the last five years, the rate of growth in such filings has slowed; (ii) suspicious activity characterized as “Mortgage Loan Fraud” increased 35% from the corresponding period in 2006 and was the third most prevalent type of suspicious activity reported, after “Bank Secrecy Act/Structuring/Money Laundering” and “Check Fraud”; (iii) SARs filed by money transmitters decreased in 2007 from the corresponding period in 2006; and (iv) securities and futures industry SARs during the first six months of 2007 increased 53% over the same period in 2006.

 http://www.fincen.gov/sars/sar_by_numb_09.pdf