News release: “The Financial Crimes Enforcement Network (FinCEN) today released a new report, Mortgage Loan Fraud Connections with
Other Financial Crime: An Evaluation of Suspicious Activity Reports Filed By Money Services Businesses, Securities and Futures Firms,
Insurance Companies and Casinos, that shows subjects reported for suspected mortgage loan fraud may also be involved in other financial crimes such as check fraud, money laundering, stock manipulation, structuring to avoid currency transaction reporting requirements and others. From depository institution Suspicious Activity Reports (SARs), FinCEN identified approximately 156,000 mortgage fraud subjects, and found that 2,360 were reported for suspicious activity in 3,680 of the other SAR types.”