Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
FinCEN seeks comment on monthly SAR report value
WASHINGTON (8/10/10)—Credit unions and other financial institutions will soon be encouraged to give their insight on the usefulness of the Financial Crimes Enforcement Network's (FinCEN’s) updates on its Suspicious Activity Reports (SARs), the U.S. Treasury announced this week. Specifically, FinCEN said it is seeking input on its SAR Activity Review - Trends, Tips & Issues release and its SAR Activity Review - By the Numbers release. An opinion survey, which will be provided online, will be completely voluntary. FinCEN in a release said that it hopes to learn more about the needs of financial institutions and to "identify opportunities to improve" the reports. The survey results will be reported to FinCEN "only in the aggregate," according to the release. "Individual responses will be grouped anonymously along with those of other FinCEN customers," the release added. The activity reviews are released on a monthly basis and cover both the latest results of SARs and how financial institutions can best deal with fraudulent activity. FinCEN earlier this year reported that the total amount of SARs filed decreased slightly to 1.28 million in 2009, down from the 1.29 million SARs recorded in 2008.
Other Resources

RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
12 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
13 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
14 hours ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
14 hours ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
14 hours ago