FinCEN BSA data: Fraud, money laundering top suspicious activities

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) published its latest collection of Bank Secrecy Act (BSA) data, including number and type of suspicious activity reports (SARs).

The annual report from FinCEN covers fiscal year 2023 and is “intended to help stakeholders gain insight into the collection and use of [BSA] data, including FinCEN’s efforts to support law enforcement and national security agencies,” the agency said in a press release.

In FY23, FinCEN received approximately 4.6 million SARs, with more than 50 percent of that total—about 2.5 million—coming from depository institutions. Money services businesses contributed nearly 1.5 million.