Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
INACTIVE
This page is no longer active. Its content has expired or been rescinded by the FDIC.
Financial Institution Letter

Bank Secrecy Act The SAR Activity Review by the Numbers, May 2008 Issue

Summary: The Financial Crimes Enforcement Network (FinCEN) has issued the tenth edition of The SAR Activity Review By the Numbers . The report includes information through year-end 2007.

Highlights:

  • FinCEN has issued the tenth 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 are 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 December 31, 2007, over 5.4 million SAR forms had been filed with FinCEN. Of that total, over 2.8 million were filed by depository institutions.
  • 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_10.pdf . 267K ( PDF Help )
  • The SAR Activity Review By the Numbers is a companion report to The SAR Activity Review - Trends, Tips & Issues .
  • Bank Secrecy Act/Structuring/Money Laundering continues to be the leading characterization of suspicious activity by depository institutions, increasing 15 percent from 2006.
  • Mortgage loan fraud SARs have increased significantly with an annual rate of approximately 40 percent.
  • A comparison of SAR filing trends for 2006-2007 indicated a 42 percent increase in false statement filings, and a 19 percent increase in consumer loan fraud filings. Reported instances of terrorist financing decreased 7 percent in 2007, maintaining the downward trend since 2004.

Distribution:
FDIC-Supervised Banks (Commercial and Savings)

Suggested Routing:
Chief Executive Officer
BSA Compliance Officer

Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at: http://www.fdic.gov/news/financial-institution-letters/2008/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).




Additional Related Topics:

  • Bank Secrecy Act/Anti-Money Laundering
  • Programs
FIL-55-2008

Last Updated: June 23, 2008