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 suspicious activity involving checks. Suspicious Activity Reports by the Securities and Futures Industries (SAR-SFs) disclose a 19 percent increase in Check Fraud.

The total number of SAR-SFs filed show a 29 percent increase compared to the same period in 2008. Over similar time periods, SAR-SFs reporting “Bribery/Gratuity” have increased 95 percent. SAR-SFs reporting “Wash or Other Fictitious Trading” have increased 150 percent. Significant SAR-SF increases were also noted for Mail Fraud, up 52 percent, and Wire Fraud, up 56 percent. SAR-SF filings characterizing the instrument types as Foreign Currency Futures (450 reports) and Foreign Currencies (252 reports) amplified significantly from the 17 and 83 respective reports filed in the same period of 2008.

Four percent of the increase in SAR-SF filings is due to increased filings by the insurance industry. FinCEN today is also publishing Insurance Industry Suspicious Activity Reporting - An Assessment of the Second Year of Suspicious Activity Report Filings. This assessment, the second to be produced for the insurance industry, examines trends, highlights observed suspicious activities and offers feedback on the quality of reports provided by that industry.