News

Untimely suspicious activity report filings by banks and the temporary storage of IP addresses by service providers are among the factors that hamper federal investigations of financial fraud against the elderly, U.S. officials and industry representatives said Tuesday. In addition to including basic account identifying information, compliance staff should note in their suspicious activity reports (SARs) the existence of any IP addresses linked to the questionable transaction, said Fred Busch, a U.S. Postal Inspection Service investigator, during an online conference hosted by the Association of Certified Anti-Money Laundering Specialists (ACAMS). Compliance staff should also call law enforcement immediately about any...