Suspicious activity reports in U.S. show increase in terrorist financing

By Christine Duhaime | October 12th, 2010

FinCEN has released its latest SAR Activity Review, a compilation of suspicious activity reports (called suspicious transaction reports in Canada) filed by depository institutions, money services businesses, casinos and card clubs and segments of the securities industry and insurance industry. In 2009, the number of SARs filed dropped in all segments except the casinos and the securities industry. Slightly over 8 million SARs were filed in 2009. Some other key findings of the Review are as follows:

  • depository institutions reports connected to terrorist finance increased 8%;
  • casinos continue to report structuring as the most cited type of suspicious activity and reported a 5% increase in that activity over 2008; and
  • reports of cheque fraud from casinos and card clubs increased 47%.

You can read the SAR Activity Review here.

Comments are closed.