NATIONAL CREDIT UNION ADMINISTRATION
1775 DUKE STREET, ALEXANDRIA, VA 22314
DATE: February 2004 NO.: 04-RA-01
TO: All Credit Unions
SUBJECT: The Suspicious Activity Report (SAR) Activity Review – Trends, Tips & Issues, Issue 6, November 2003
Dear Board of Directors:
The purpose of this Regulatory Alert is to notify you of the November 2003, issue of The (SAR) Activity Review – Trends, Tips & Issues. The SAR Activity Review is published semiannually by Financial Crimes Enforcement Network (FinCEN).
The publication provides feedback to financial institutions about suspicious activity reported to FinCEN by the institutions. It contains SAR statistics, patterns and trends of suspicious activity that have been reported, tips and guidance for financial institutions on form preparation and filing, as well as information about law enforcement cases in which SAR information played an important role in a successful investigation and/or prosecution of criminal financial activity.
The SAR Activity Review may be found on FinCEN’s Web site, www.fincen.gov/sarreviewissue6.pdf.
Sincerely,
/S/
Dennis Dollar
Chairman