SARs Up at CUs, Down Overall
Credit unions filed 62,630 suspicious activity reports last year, an increase from the 57,179 filed in 2008, according to data released today by the Financial Crimes Enforcement Network.
Filings by credit unions have increased during six of the last nine years.
Last year's increase came during a year in which there were 1.28 million SARs, compared with 1.29 million in 2008.
Depository institutions made 720,309 SARs last year, compared with 732,563 in 2008. The largest categories were: check fraud (84,952), mortgage fraud (67.360), credit card fraud (41,548), false statement (36,122), identity theft (36,093) and counterfeit checks (16, 506).
FinCen didn't break down the type of SAR by financial institution.
At depository institutions, there was an 8% increase in reports indicating terrorist financing, and a 31% decline in reports of consumer loan fraud.