What did Republicans find when they looked? Nothing.
These reports are often triggered simply by large financial or cash transfers and do not inherently constitute proof of a crime or illegal activity.
What about Trump's SAR's?
Suspicious Activity Reports (SARs) involving Donald Trump and his businesses span multiple years and fall into a few primary categories: corporate banking reviews, congressional requests regarding political and crypto ventures, and sweeping policy changes enacted by the Trump administration
- The claim was widely publicized by Republican lawmakers (such as Rep. James Comer and Sen. Chuck Grassley) based on early reports and documents regarding Hunter Biden and his uncle, James Biden.
- Media Scrutiny: Fact-checkers and news outlets like The Washington Post have noted that citing the 150 figure as definite proof of wrongdoing can be misleading.
After a standoff with the Treasury Department, the House Committee on Oversight and Government Reform eventually gained access to review these confidential banking records
Now, we know Trump is doing this so why do you care if the Biden's did it on the down low?
U.S. banks flagged millions of dollars in overseas transactions connected to Hunter Biden, but these "suspicious activity reports" (SARs) are not proof of criminality on their own. While bank records provided evidence of foreign payments, federal investigations and congressional probes have not produced evidence that these transactions involved or influenced Joe Biden.
During Donald Trump's presidency, anti-money laundering specialists at Deutsche Bank reportedly recommended filing SARs regarding transactions connected to Trump entities and Jared Kushner’s companies. According to congressional inquiries, senior bank officials blocked these filings, and the reports were ultimately never submitted to the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN). Representatives for both the Trump Organization and Kushner Companies strongly denied any knowledge of flagged transactions or improper financial activity at the time
Congressional Democrats have aggressively pushed the U.S. Treasury for information regarding SARs tied to Trump-associated ventures. In 2025, top House lawmakers formally demanded that the Treasury turn over all SARs related to the Trump-backed crypto venture
World Liberty Financial, Trump-branded meme coins, and the political fundraising platform
WinRed. [
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Treasury Policies and Enforcement Actions
FinCEN actively monitors the financial landscape and has routinely issued guidance and advisories to financial institutions urging them to be vigilant about suspicious activities. In late 2025, the U.S. Treasury
overhauled its SAR reporting workload, significantly easing reporting rules for banks on transactions previously classified as suspicious solely due to threshold proximity. At the same time, the administration has increased regulatory focus on specific areas of concern, such as the unlawful employment of illegal aliens and targeted anti-money laundering enforcement near the Southwest U.S. border.