Dynamic Securities Analytics, Inc. (“DSA”) reviewed the SEC’s and FINRA‘s 2017 exam priorities letters to identify AML areas of focus. There are a few areas where the two regulators’ priorities overlap: suspicious activity monitoring, cyber security and elder financial exploitation. The focus on elder abuse is a new area for the SEC this year whereas […]
Suspicious Activity Reports
6 posts
Matt Ferner of the Huffington Post cited DSA’s analysis of Suspicious Activity Reports (SARs) in his article titled “Some Banks are Working with Marijuana Businesses, but they Remain Wary.” DSA president, Alison Jimenez, was also quoted in the article. See an excerpt below: DSA notes the total reports (SARs) filed add up to 3,341 […]
Like any small business, Ponzi schemes can be a flash in the pan or a long term endeavor, all depending on management. It is suspected that Madoff’s scheme went on for decades before it crumbled. The math behind running a long-term Ponzi scheme is fairly straightforward. If inflows and outflows are managed properly, the scheme […]
Drug dealers get the most attention but tax evasion is by far the largest source of laundered funds. DSA analyzed US crime estimates 1 and found that there is $14.06 in dirty money generated from tax evasion for every $1 generated by illegal drug sales. Similarly, tax evasion generates $3.81 dollars to every $1 for other […]
Customers Represent the Minority of SAR Subjects for Most Institutions DSA analyzed FinCEN’s SAR Stats report to assess the nature of the filer’s relationship with the SAR subject. Securities/Futures,Money Services Businesses (MSB), Insurance or Other Firms^ characterize the filer/subject relationship as “customer” in less than 1/3 of Suspicious Activity Reports (SARs). The filer/subject relationship was […]
Learn About Tableau My goal was to create an interactive map of Suspicious Activity Reports (SARs) to determine what customer activity was reported as “suspicious” in each state. I planned to then declare that “Mississippi Tops the Ranks in ___ Fraud” and “Ohio is the Riskiest State for ____.” Instead, I was schooled […]