FinCEN Releases Report On Suspicious Activity Reports

Today, Financial Crimes Enforcement Network (“FinCEN”) Director James H. Freis, Jr., is chairing the 32nd semi-annual plenary session of the Bank Secrecy Act Advisory Group (“BSAAG”), which was established by Congress to serve as a forum for industry, regulators, and law enforcement to communicate about how Bank Secrecy Act reports are used by law enforcement, and how recordkeeping and reporting requirements can be improved. At the meeting, Freis announced the release of the 16th issue of The SAR Activity Review - Trends, Tips & Issues, which is published under the auspices of the BSAAG, and which provides information to FinCEN's stakeholders about the preparation, use, and value of SARs. FinCEN also released an advisory to financial institutions on filing suspicious activity reports regarding TARP-related programs.

 
The documents are available at the FinCEN Web site at http://www.fincen.gov/.