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Guidance For Filing Suspicious Activity Reports SARs For Hurricane-Related Benefit Fraud

REGULATORY ALERT

NATIONAL CREDIT UNION ADMINISTRATION
1775 Duke Street, Alexandria, VA 22314

Date
February 2006
Letter No
06-RA-01
06-RA-01 / February 2006
Guidance For Filing Suspicious Activity Reports SARs For Hurricane-Related Benefit Fraud
Subject
BSA/AML
To
All Federally Insured Credit Unions
Status
Active
To
All Federally Insured Credit Unions
Subj
Guidance For Filing Suspicious Activity Reports SARs For Hurricane-Related Benefit Fraud
Encl
  • FINCEN Alert FIN-2006-A001Guidance To Financial Institutions Regarding Hurricane-Related Benefit Fraud (opens new window)

Dear Board of Directors:

The purpose of this Regulatory Alert is to provide you with the February 3, 2006 Alert issued by the Financial Crimes Enforcement Network (FinCEN) pertaining to Suspicious Activity Reports (SARs) filed to report hurricane-related benefit fraud. The FinCEN alert is attached for your review.

The alert contains a request by FinCEN for financial institutions to use the key words listed below in the narrative portion of SARs that relate to possible hurricane relief fraud.

  • Katrina
  • Rita
  • Wilma
  • FEMA
  • Red Cross
  • Hurricane

The use of these key words will assist law enforcement in identifying hurricane-related fraud as early as possible.

If you have questions about SAR filing, please contact your regional office, examiner, or state supervisory authority.

Sincerely,

/s/

JoAnn Johnson

Chairman

Footnotes

Enclosures

  • FINCEN Alert FIN-2006-A001Guidance To Financial Institutions Regarding Hurricane-Related Benefit Fraud (opens new window)
Last modified on
09/25/20

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National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314