“Last month, Ranking Member Raskin wrote a letter to Chairman Comer urging him ‘not to take any actions that would set a dangerous precedent for this Committee regarding the potentially unlawful disclosure of confidential and law enforcement information.’ Ranking Member Raskin also urged the Chairman to exercise ‘caution with regard to this confidential law enforcement information and avoid characterizing or mischaracterizing the unverified allegations’ contained in the SARs documents. Yet Chairman Comer has intentionally mischaracterized SARs documents, presenting unverified tips from financial institutions as facts. Committee Republicans’ inexplicable misuse of these confidential law enforcement documents is not only irresponsible, it demonstrates the hyper-partisan nature of Committee Republicans’ probe into the Biden family.”

“Although Chairman Comer continues to portray SARs as ‘bank violations’ during his media appearances, they clearly are not that. According to the Department of the Treasury, SARs are merely ‘preliminary and unverified tip-and-lead information.’ They are not evidence of a crime, wrongdoing, or even evidence of an existing investigation. The sheer number of SARs filed every year demonstrates this point: in 2020 alone, financial institutions submitted 2.5 million SARs to the U.S. government. Of the millions of SARs filed each year, very few produce actionable leads that are pursued by the government. According to the Bank Policy Institute (BPI), a nonpartisan public policy, research, and advocacy group that represents the nation’s leading banks, only 4% of SARs result in any follow-up action from law enforcement agencies. As BPI has explained, ‘Since banks are subject to enforcement action if they fail to file a SAR when they should have, but suffer no sanction if they file a useless SAR, the general presumption is to file a SAR,'” writes House Oversight Committee Ranking Member Jamie Raskin in a letter thoroughly demolishing the “bombshell evidence” of Biden family corruption Comer and his minions hyped to death before their weak rollout Wednesday.

TLDR: The “suspicious activity reports” are just tips filed to the Treasury Department from any random asshole who wants to do it. There’s no evidence any of them were actually acted upon.