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MSB Data Shows Slight Increase in Suspicious Activity Reporting
By Matt Squire
printThe number of suspicious activity reports filed by money services businesses increased slightly in the first half of 2008 compared to the same period in 2007, according to data provided by the U.S. Treasury Department. Money services businesses (MSBs), including check cashers, money transmitters and currency exchangers, filed a total of 250,180 suspicious activity reports (SARs) with the department's Financial Crimes Enforcement Network (FinCEN) during the first six months of 2008, a three percent increase from the first six months of 2007, FinCEN said Wednesday. Should the trend continue for the rest of the year, the number of reports filed...
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