Overseers of depository accounts noticed a lot more shady-looking funnel account activity in 2014, according to FinCEN’s latest annual review of Suspicious Activity Report filings.

The report, which examined more than three million SARs filed by credit unions, banks, insurance companies, casinos, money services businesses and several other types of entities between March 1, 2012, and Dec. 31, 2014, called the accounts “the standout trend for 2014” among depository institutions and noted almost 10,000 mentions of the activity in one category compared to just 123 mentions in 2012 and 2013.

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Tina Orem


Credit Union Times

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