The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) published its latest collection of Bank Secrecy Act (BSA) data, including number and type of suspicious activity reports (SARs).

The annual report from FinCEN covers fiscal year 2023 and is “intended to help stakeholders gain insight into the collection and use of [BSA] data, including FinCEN’s efforts to support law enforcement and national security agencies,” the agency said in a press release.

In FY23, FinCEN received approximately 4.6 million SARs, with more than 50 percent of that total—about 2.5 million—coming from depository institutions. Money services businesses contributed nearly 1.5 million.

The most frequent suspicious activity identified in those reports was fraud (about 1.8 million), followed by money laundering (1.6 million), structuring (1.3 million), and identification documentation (386,000).

SARs and currency transaction reports formed the basis of more than 15 percent of active Federal Bureau of Investigation probes in FY23, according to FinCEN.