FinCEN: Accountant and Elder Abuse

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We have been keeping track of FinCEN's SAR Activity Review – Trends, Tips & Issues virtually from its inception.

In its just issued May 2013 report, FinCEN provides new information regarding two areas of importance:

1) The Suspicious Activity Report (SAR) filing patterns related to elder financial exploitation before and after the publication of FinCEN's Advisory to Financial Institutions on Filing Suspicious Activity Reports Regarding Elder Financial Exploitation ("Advisory"), in February 2011, and

2) An analysis of trends related to SAR filings involving accountants and involving insider abuse within depository institutions.

In this newsletter, I would like to provide you with some insights regarding each of these areas of concern reviewed in the FinCEN report, with a brief review of elder abuse trends and a much more extensive review of suspicious financial activity involving accountants.

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Elder Abuse - Trends

Accountant Abuse - The Gatekeeper

Sampling the Data

Separating the Wheat from the Chaff

Accountants Abuse - Trends

Conclusion

Library

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Topics:  Accountants, Elder Abuse, Embezzlement, FinCEN, Fraud, SAR, Tax Fraud

Published In: Administrative Agency Updates, Consumer Protection Updates, Criminal Law Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Jonathan Foxx, Lenders Compliance Group | Attorney Advertising

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Jonathan Foxx
Lenders Compliance Group

LENDERS COMPLIANCE GROUP, INC. (LCG) and its affiliates, BROKERS COMPLIANCE GROUP, INC. (BCG),... View Profile »


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