Congress demands answers from gao on suspicious activity reports received by FinCEN
Congressmen have asked the Government Accountability Office (GAO) to investigate the mission and operational capacity of the Financial Crimes Enforcement Network (FinCEN), and the increasing volume of suspicious activity reports (SAR) that the agency is receiving.
In a letter to David Walker, comptroller general of the United States, the heads of the House Committee on Financial Services expressed concern over "the mission and operational capacity of FinCEN", in light of a hearing in May by the subcommittee on oversight and investigations that "raised questions about the efficiency and effectiveness of Bank Secrecy Act (BSA) administration and enforcement".
The letter also expressed concerns over the number of SARs filed and specifically that "they lacked
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