Last year saw a record number of SAR filings. According to the Financial Crimes Enforcement Network (FinCEN), banks, savings associations, and credit unions alone filed more than 2.193 million SARs in 2025, an increase of 7.66% over SAR filings in 2024. Seven groups in total file SARs, and during 2025, all seven groups filed more than 4.105 million SARs, an increase of 7.99% over total SAR filings in 2024.
SAR reports are part of Bank Secrecy Act (BSA) data that law enforcement uses to identify and investigate evolving and increasingly complex financial crimes.
SAR Filing Categories
For banks, savings associations, and credit unions, the most often reported category of SAR filings in 2025 was “Suspicion Concerning the Source of Funds” (9.08%). Other categories included “Transactions with no apparent economic, business, or lawful purpose” (9.04%), “Transactions below the CTR threshold” (8.65%), “Suspicious EFTs/Wire Transfers” (8.15%), and “Check Fraud” (7.46%). (In years 2022, 2023, and 2024, “Check Fraud” was the top-reported SAR category by banks, savings associations, and credit unions.)
The 16th most often reported crime was “Wire Transfer Fraud,” which increased to more than 2% of SAR filings in 2025. (Traditionally, wire transfer fraud normally accounted for 1.5% of SARS filed, a cause for concern as the losses in wire trend to the higher dollar amounts.) The 15th most often reported crime was “Elder Financial Exploitation (EFE),” also exceeding 2%. Traditionally, EFE stood at approximately 1% of SARs filed.
Almost 31,000 SARs were filed reporting cyber-related crimes against financial institutions’ customers, with more than 8,500 SARs reporting cyber-related crimes against a financial institution itself, and almost 7,800 SARs reporting “Other” cyber events, e.g., ransomware. Total cyber-SAR filings were up 30% compared to 2024.
State SAR Filings
California once again led the nation in total SAR filings, with North Carolina, Ohio, New York, and Texas rounding out the top five SAR-filing states. New York City-Northern New Jersey-Long Island (NY-NJ-PA Metro Area) once again was the top metropolitan filing area. Charlotte-Gastonia-Rock Hill (NC-SC Metro Area) came in a close second. Washington-Arlington-Alexandria (DC-VA-MD-WV Metro Area) maintained its traditional third spot, with Columbus, Ohio, at fourth, and the Los Angeles-Long Beach-Santa Ana, California Metro Area rounding out the top five.
Utilizing BSA Data
The SAR will reach its 30th birthday on April 1, 2026 with more than 47 million SARs filed, including more than 24 million filed by banks, savings associations, and credit unions.
In February 2026, IRS Criminal Investigation (IRS-CI) documented metrics that demonstrate the value of BSA information through enhancement and acceleration of IRS-CI investigations. The agency reported that 94% of IRS-CI cases were searched against BSA data, resulting in more than 3.9 million searches of BSA filings. Nearly 80% of IRS-CI investigations had primary subjects associated with SARs, and nearly 67% had primary subjects associated with currency transaction reports. When utilizing BSA filings in 2025, IRS-CI achieved a 98% conviction rate, an average prison sentence of 42 months, more than $450 million in asset forfeitures, and almost $500 million in restitution for crime victims. (More than 95% of investigations involving a seizure had one or more BSA filings associated with the primary subject.)
How Forvis Mazars Can Help
As the SAR begins its fourth decade, suspicious activity reporting and the SAR process remain critical components in the anti-money laundering (AML)/countering the financing of terrorism (CFT)/BSA programs within financial institutions. Our ProBank Education Services team at Forvis Mazars can help your institution navigate regulatory compliance. If you have any questions or need assistance, please reach out to a professional at Forvis Mazars.