Alert June 29, 2010

FinCEN Releases 14th SAR Activity Review-By the Numbers

FinCEN released its “14th SAR Activity Review – By the Numbers,” which covers suspicious activity reports (“SARs”) filed in 2009.  According to the report, the total number of all SARs filed by financial institutions declined from 1.29 million in 2008 to 1.28 million in 2009, the first time since 1996 that the total number of SARs filed declined over a one-year period.