The Financial Crimes Enforcement Network (FinCEN) has launched its latest and 13th edition of The SAR Activity Review - By the Numbers. The report’s findings signified some moderation in previously reported suspected fraudulent activities and significant increases in other areas.

The Suspicious Activity Report (SAR) filings for the first six months of 2009 that shows suspected Mortgage Loan Fraud have risen just one percent from the corresponding period in 2008, however, remained at a historically high level. This follows six straight years of double-digit growth.

SARs filed by Money Services Businesses present a 76 percent increase in suspected fraud involving Traveler’s Checks. SARs filed by casinos indicate an 18 percent rise in…

Stamford, Connecticut – The 50-year old accountant, Jose I. Flores, waived his right to indictment and pleaded guilty to one count of conspiracy to commit wire fraud stemming from his participation in a mortgage fraud scheme.

Flores admitted that from approximately 2004 to 2008, he connived with others to defraud mortgage lenders by causing the co-called “accountant letters” that contained materially false information about the loan applicant that is to be submitted to lending institutions on behalf of applicants for residential real estate mortgages.

According to court documents and statements made in court, Flores, who did business as a tax preparer and accountant under the name Harvard Financial Services, Stamford, Connecticut, was…