The Effective Use of AI for SARs
Suspicious activity report (SAR) filings are increasing. Last year, a whopping 4.6 million SARs and 20.8 million currency transaction reports (CTRs) were filed, according to the Financial Crimes Enforcement Network’s (FinCEN) Year in Review FY 2023.1 That is nearly a 28%2 increase in year-over-year SAR filings....