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MSBs Filed 14 Percent Fewer SARs in 2012, FinCEN Says
By Brian Monroe
printThe annual number of suspicious activity reports filed by money services businesses fell by 14 percent in 2012 compared with the previous year, the U.S. Treasury Department said in a report Wednesday. The firms, known as MSBs, filed less than 586,000 suspicious activity reports (SARs) last year, a drop of nearly 100,000 reports compared to the 685,000 sent to the department's Financial Crimes Enforcement Network (FinCEN) in 2011, according to the bureau. The "significant drop" is the first dip in annual SAR numbers for MSBs since 2008, FinCEN said. In the report, FinCEN noted the yearly number of MSB reports...
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