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SARs for Dummies as explained by Rep. James Comer (R-Ky.)

By Curt_Anderson
November 30, 2022 4:27 pm
Category: Education

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Rep. Comer will be the chair of the House Oversight Committee. He posted on the committee’s website a letter (link below) from the Treasury Department which in part says:

"These suspicious activity reports (SARs) and other BSA reports filed with the Financial Crimes Enforcement Network (FinCEN) contain details of financial transactions and other sensitive, nonpublic information. This is preliminary and unverified tip-and-lead information on possible violations of law."



According to a Treasury Department report submitted to Congress, there about 2.5 million to 3.5 million SARs are submitted annually to FinCEN (link below). No, Virginia, there are not 2.5 million to 3.5 million financial crimes uncovered annually because of SARs.

Cited and related links:

  1. republicans-oversight.house.gov
  2. home.treasury.gov
  3. washingtonpost.com

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Comments on "SARs for Dummies as explained by Rep. James Comer (R-Ky.)":

  1. by oldedude on November 30, 2022 6:09 pm
    So he's as stoopid as you. The "unverified data" are transactions that banks keep to PROVE transactions have been made. Again. You're stoopid enough to get information from someone that has never worked in the banking industry explain that to you. That's pig ignorant (thank you pondy once again).


  2. by Curt_Anderson on November 30, 2022 6:20 pm
    OD,
    "Stoopid" James Comer is the one who said, "Hunter Biden’s committed serious crimes". You seem to agree with him.


  3. by oldedude on November 30, 2022 7:05 pm
    Okay. and that means what? since you're so fukking schooled on banking law?


  4. by oldedude on November 30, 2022 7:19 pm
    I'm not asking for what THEY "know", I'm trying for you to understand what you DON"T know. You know jack and sht about banking law. Your ONLY reprieve is to blame others for what they say, not what you know. This is a genre I know. In the legal sense. I made legal decisions about this for 10 years. You're not even a novice. You're a poser.


  5. by Curt_Anderson on November 30, 2022 8:39 pm
    There is a good reason to show what THEY know rather than what person posting here purports to know. The "THEY" are reliable sources, which could be the wording on Treasury Department webpage, the language of a constitutional amendment, a quote of a member of Congress, the exact language of a bill, a respected news site, etc.

    In a forum like this, we generally don't really know who other people are. For all we know, you could be a 15 year-old girl. You can claim you are expert in some field but it doesn't mean much if you cannot support your claims with a link to reliable source(s). Especially when reliable sources contradict you. It doesn't help your case to "source" a supposed friend to back up your claims.



  6. by oldedude on December 2, 2022 12:51 pm
    It's not. Trust me. AML is a Huge issue and stands alone.

    Look for another reference. That one is bullsht.


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