The perpetrators of Advance Fee Fraud schemes are often very creative and innovative. This scheme is commonly known as "4-1-9" fraud, in reference to the section of the Nigerian penal code that addresses this type of activity. Nigerian nationals, purporting to be officials of their government or…
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On August 23, 2002, FinCEN launched a survey of a statistically valid sample of banks, savings and loans and credit unions to gather information on the costs of filing CTRs and SARs, as well as the use of the exemption process for CTR filings. Sampled institutions were notified via email and…
The Financial Crimes Enforcement Network (FinCEN) has issued today its fourth SARActivity Review – Trends, Tips and Issues. This issue of The Review contains information related topotential terrorist financing activity as well as an analysis of SAR filings since September 11, 2001that referred…