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Blog

SAR Filings Skyrocket

By David Dickinson

In December 2007, the FDIC released their Supervisory Insights newsletter.  This article provides good information about what happens to the SARs you file and the purpose they serve.  The FDIC indicates SAR filings exceeded 1 million in 2006.  I have to wonder if there more suspicious activity today than in years past?  Over 10 times more (1996 vs. 2006 filings)?

Are we fighting money laundering or filing paperwork?  Hmmmm.  Makes me wonder.