Tag Archive | “SARs”

FBI says, U.S. mortgage Fraud Hit $1.4 billion

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Mortgage fraud loses of at least $1.4 billion in 2008 has been reported by the U.S. financial institutions , there has been a rise of 83.4 per cent over 2007, said by the FBI.

mortgageFraud

Further the FBI said that, according to the Federal Bureau of Investigation’s 2008 Mortgage Fraud Report that has been released on Tuesday, during fiscal year (FY) 2008 mortgage fraud Suspicious Activity Reports (SARs) referred to law enforcement has been increased up to 36 % to 63,713 , as compared to 46,717 reports in FY 2007.

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September 2011
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