FinCEN: SAR Narrative, PowerPoint, and Mortgage Loan Fraud

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On September 18, 2012 FinCEN held an Informational Webinar regarding the new FinCEN Suspicious Activity Report (SAR).

The corresponding, full PowerPoint presentation of the recorded version of this Webinar is available through this article.

For those interested in actually viewing the Webinar, there is a link to the FinCEN webpage.

Recently, FinCEN issued two important reports (available in our Library):

- SAR Activity Review – Trends, Tips & Issues (Issue 22)

- Mortgage Loan Fraud Update - Suspicious Activity Report Filings in 2nd Quarter 2012

The first report offers significant insight and guidance in monitoring suspicious activity, and the second report provides important insights regarding SAR filings related to mortgage loan fraud. For years we have worked with our bank clients on auditing their SAR filings and AML compliance, and I can vouch for the practical advantages of reading these on-going FinCEN reports to enhance your risk management responsibilities.

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IN THIS ARTICLE

SAR Narrative: "5 W's and the How"

Mortgage Loan Fraud - Statistics and Charts

Foreclosure Rescue Scams on the Rise

California: Highest 2012-Q2 Foreclosure Rescue SARs

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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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