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SARs Citing Mortgage Fraud Fell 25 Percent in 2012, FinCEN Says
printThe number of suspicious activity reports citing possible mortgage fraud fell in 2012 for the first time in over a decade, according to a report published Tuesday by the U.S. Treasury Department. Financial institutions reported 69,277 possible instances of the crime in regulatory filings submitted to the department's Financial Crimes Enforcement Network, or FinCEN, the bureau said. The number marks a 25 percent decline from the previous calendar year when the institutions filed 92,561 such reports. The 2012 total is also less than the number filed in 2010, when financial institutions sent 70,472 suspicious activity reports (SARs) citing mortgage fraud....
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